A lawsuit has been filed against a North Carolina bank that’s accused of giving scammers access to a real estate company’s accounts, allowing them to steal hundreds of thousands of dollars.
Emerald City Associates owns several rental properties in Greenville and near Raleigh, and the lawsuit claims that First Bank gave scammers access to the real estate company’s accounts, allowing them to steal more than $560,000.
According to the lawsuit, cyber criminals sent emails to First Bank last June saying Emerald City Associates hired a new accounting firm and they urgently needed access to the accounts to send wire transactions.
First Bank tried calling two managers at ECA, since a bank employee raised concerns about the email, but court documents claim despite lacking verification from company about the request, the bank granted the scammer’s request to access the accounts.
The suit says the bank is refusing to pay back the funds. The complaint accuses the bank of negligence, unfair trade practices, breach of fiduciary duty, negligent hiring and supervision, and fraud.
