NJ Firm Says BofA Owes $5M For Fraudulent Wire Transfer

Law360, New York (May 17, 2013, 2:11 PM EDT) -- Borenstein McConnell & Calpin PC wants Bank of America Corp. to pay more than $5 million for processing a $264,000 wire transfer from Borenstein's attorney trust account despite Bank of America's alleged knowledge that the transaction was fraudulent, according to a lawsuit filed Thursday in New Jersey federal court.

The firm says Bank of America acted negligently when it processed a wire transfer for a Borenstein McConnell client who allegedly gave the firm a fraudulent cashier's check, even though the client had previously been tagged by...
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