#United States #First Horizon #Miami #Fraud Allegations #Fowler White

New Lawsuits Filed Against First Horizon Bank

In a significant legal development, Fowler White Burnett attorneys have announced the filing of an amended federal complaint against First Horizon Bank. The lawsuit stems from allegations that First Horizon negligently allowed the unauthorized transfer of over $6.5 million.

The plaintiffs, K&A Rosario Holdings, LLC and MJR Fund I, Inc., argue that First Horizon failed to take necessary precautions, despite having prior knowledge of similar fraudulent activities involving other clients. The amended complaint requests reimbursement for approximately $4.5 million, which is the remaining amount from the total of approximately $6.5 million transferred illegally.

This legal challenge is part of three pending lawsuits in Florida that together claim more than $24 million in unauthorized transfers connected by patterns of account takeover tactics. The allegations highlight a troubling trend in the banking sector, raising questions about banks' responsibilities to prevent fraud and protect clients’ assets.

According to court documents, the fraudulent activity came to light on March 3, 2026, when an unauthorized caller contacted First Horizon. Claiming to possess a new cellphone, the caller requested assistance in accessing an account. Within minutes, the account was accessed from an unfamiliar IP address located in New York. Following this, amounts exceeding $6.5 million were transferred to recipients that KA Rosario and MJR Fund reportedly had no prior business relationship with.

Moreover, the complaint notes that First Horizon was aware of earlier incidents of fraud affecting another client, Rabideau Klein, P.A., which involved unauthorized transfers totaling $17.28 million just two months before the recent incident. Alarmingly, the amended complaint reveals that approximately $2.29 million of the recent transfers went to the same overseas recipient as those involved in the earlier case, suggesting a pattern of vulnerability that went unaddressed.

A separate lawsuit from another firm, Nosich Ganz, has alleged a total of around $604,500 in unauthorized transfers that occurred shortly after December 2025 and also ties back to account takeover methods.

Legal representatives for the plaintiffs have expressed the serious concerns stemming from the allegations. Victor M. Velarde, a shareholder at Fowler White Burnett, stated, "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."

The attorneys representing KA Rosario Holdings and MJR Fund in the ongoing federal action are hopeful for recovery from the bank, as ongoing investigations continue to unveil the details of these fraudulent activities.

Fowler White Burnett has been providing legal services for over 80 years and has developed a robust reputation for guiding businesses, insurers, and individuals through complex legal challenges in Florida and beyond. The firm has offices in major Florida cities such as Miami, Fort Lauderdale, Jacksonville, West Palm Beach, and Tampa. They handle a range of issues from litigation to transactional and regulatory matters and are dedicated to providing effective solutions and legal counsel to their clients.

For more detailed information on the ongoing litigation or the background of the case, media representatives can request access to the complaints and legal documents associated with this case.

Media inquiries can be directed to Rosy Lopez of Rosy Strategies, reachable at 305.798.3726, or via email.

In conclusion, this case highlights the growing need for vigilance against banking fraud and raises serious ethical and legal questions about how financial institutions manage customer security and risk. As the litigation progresses, it remains to be seen what implications this will have for First Horizon Bank and the broader financial services industry.