A self-proclaimed victim of a crypto romance scam, Michael Zidell, has filed a second lawsuit against two other banks after recently suing Citibank for failing to identify red flags. On Tuesday, Mr. Zidell sued East West Bank and Cathay Bank in federal court in California, accusing the banks of "failing to meet their legal obligations and responsibilities".
He alleged that he made 18 transfers to the scammers account at East West Bank, totaling nearly $7 million; and 13 transfers to an account at Cathay Bank, totaling more than $9.70 million.
Previously, Zidell had sued Citibank on June 24, accusing the bank of ignoring red flags in 12 transfers involving fraudster accounts, totaling about $4 million.
20 million Dollar Cryptocurrency Scam Victims Sue Two More Banks, Previously Suing Citibank
2025-07-04 06:21:48
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