Scammers drained millions from a business owner’s bank accounts through a series of fraudulent wire transfers after impersonating him in phone calls to the lender.
Two of his companies allege in a lawsuit that First Horizon Bank permitted the transfers despite knowing about similar fraud involving other customers, says the law firm Fowler White Burnett.
Misael Rosario, 68, founded Century Metals and Supplies 38 years ago.
His companies, K&A Rosario Holdings LLC and MJR Fund I Inc., say they lost about $6.52 million through 15 unauthorized wires over three days in March.
According to the amended complaint, a caller contacted First Horizon on March 3rd claiming to have a new cellphone, and within minutes the accounts were allegedly accessed from an unfamiliar New York IP address.
Rosario’s attorney says the scammers verified their identity using publicly available information, reports WSOC-TV’s Action 9.
Law enforcement helped recover some of the money, but the companies are seeking more than $4.5 million that remains unreimbursed.
Says Rosario,
“We were totally in shock by the situation. A lot of that money was basically going to my grandkids and our future. I mean, eventually, I’m 68 years old. I got to retire eventually.”
The complaint alleges First Horizon had been notified in January of an earlier account takeover in which law firm Rabideau Klein says about $17.28 million was wired out of its trust account, with more than $6 million still missing.
The suit also alleges $2.29 million of Rosario’s companies’ money went to the same overseas recipient tied to that earlier incident.
Three pending Florida lawsuits collectively allege more than $24 million in unauthorized or fraudulent transfers between December 2025 and March.
Says attorney Victor Velarde,
“The allegations raise serious questions about what First Horizon knew following the earlier incidents and what measures were taken to protect customers from similar attacks.”
First Horizon says it has filed a motion for partial dismissal and intends to vigorously defend the case.
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The post $6,520,000 Drained From First Horizon Customer’s Accounts After He’s Impersonated in Calls to the Bank, According to Lawsuit appeared first on The Daily Hodl.