Illinois Resident Sues Citibank Over Missing Funds
A resident of Skokie, Illinois is taking legal action against Citibank after discovering that $120,000 had vanished from his disabled sister’s trust account. His mother left $150,000 in the account to cover the expenses of his 65-year-old sister, who has been battling Alzheimer’s disease for an extended period.
International Wire Transfers Drain Trust Account
The situation became dire on October 14th, 2021, when Scott Jacobson realized that thieves had siphoned off $120,000 from the account. He recalls being extremely worried about his sister’s well-being and immediately took action to address the issue.
Citibank Fails to Resolve the Issue
Jacobson promptly filed three fraud affidavits with Citibank to recover the funds. However, he was shocked when a bank representative advised him to seek legal help instead of addressing the matter internally. Furthermore, Jacobson claims that he did not receive any notifications about the unauthorized wire transfers.
Citibank’s Response and Legal Deadlines
While Citibank insists that it followed all regulations regarding wire transfers and alerted Jacobson via text and email, Jacobson maintains that he filed fraud affidavits on time. The bank argues that he took legal action well beyond the 60-day record-keeping deadline. However, Jacobson asserts that Citibank deleted crucial emails and text messages sent to him.
Hot Take
An Illinois resident is battling banking giant Citibank over a missing $120,000 from his disabled sister’s trust account. Despite filing fraud affidavits promptly, Citibank has advised him to seek legal assistance rather than resolving the matter internally. The case underscores the challenges faced by individuals dealing with unauthorized transactions and raises questions about banks’ responsibility in protecting their customers’ assets.
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