Texas Justices Mull Liability For $400K Check-Fraud Scam

By Michelle Casady (October 26, 2021, 9:16 PM EDT) -- Cadence Bank told the Texas Supreme Court in oral arguments Tuesday that if it left in place lower court rulings freeing from liability an attorney who fell victim to a $400,000 check-fraud scam, it could create an environment in which banks are reluctant to make funds available in a timely manner.

The state's high court in June granted review in the lawsuit that asks it to decide whether attorney Roy J. Elizondo III is liable for $400,000 that his bank transferred to a third party in Japan. The First Court of Appeals held in a May 2019 split decision that Elizondo...

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