$20M crypto scam victim who sued Citibank says 2 more banks liable

The victim of a $20 million crypto scam who sued Citibank last week for allegedly ignoring “red flags” has filed a similar complaint against two more banks.

The self-claimed victim of a crypto romance scam who recently sued Citibank for failing to catch red flags has just filed a second lawsuit targeting two other banks. 

Michael Zidell sued East West Bank and Cathay Bank in a California federal court on Tuesday, accusing the banks of turning “a blind eye to their statutory duties and obligations.”

He claimed he sent 18 transfers totalling nearly $7 million to the alleged scammers’ account at East West Bank, and made 13 transfers totalling over $9.7 million to an account at Cathay Bank.

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