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A victim of a $20 million crypto romance scam has expanded his legal battle, filing lawsuits against East West Bank and Cathay Bank. The plaintiff alleges the banks ignored red flags while processing fraudulent transfers.
- Plaintiff alleges East West Bank processed 18 fraudulent transfers worth nearly $7 million.
- Cathay Bank accused of handling 13 scam-linked transfers exceeding $9.7 million.
- Case follows similar lawsuit against Citibank, intensifying focus on banks' fraud detection obligations.
📎 Related coverage from: cointelegraph.com
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