Merrill Lynch, UBS Financial and TD Bank Accused Of Negligence After Woman Loses $700,000 Life Savings To Pop-Up Scam: Report – Crypto News – Crypto News
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Merrill Lynch, UBS Financial and TD Bank Accused Of Negligence After Woman Loses $700,000 Life Savings To Pop-Up Scam: Report Merrill Lynch, UBS Financial and TD Bank Accused Of Negligence After Woman Loses $700,000 Life Savings To Pop-Up Scam: Report

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Merrill Lynch, UBS Financial and TD Bank Accused Of Negligence After Woman Loses $700,000 Life Savings To Pop-Up Scam: Report – Crypto News

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7 months ago

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A trio of financial giants are accused of negligence after an 86-year-old woman lost her six-figure life savings to a pop-up scam.

86-year-old New York resident Nina Mortellito is suing banking titans Merrill Lynch, UBS Financial and TD Bank, alleging that the companies were negligent when she lost her life savings of $700,000.

Mortellito was first scammed when a pop up appeared on her computer, informing her that her bank accounts were going to be hacked, reports Forbes.

She was then persuaded by bad actors to make large withdrawals worth hundreds of thousands of dollars from the three firms between 2023 and 2024 and instructed to send them to a Texas gold trader for safekeeping.

After Mortellito lost her funds, she sued the banks alleging they ignored red flags and warning signs, including atypical banking behavior such as transferring large sums of money she has historically never moved before.

In 2021, fearing being scammed due to her declining health, Mortellito added her niece as co-trustee of her accounts at the banks, letting the firms know that she’s susceptible to being defrauded.

Mortellito further alleges that her niece never received any notices that her account was rife with questionable activity nor did they cancel any of the transactions themselves.

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