This digital case file documents the unlawful withholding of $194,253.11 in legitimate business funds by Truist Bank for over 13 months. The bank's justification relies on a demonstrably false statement regarding the origin of wire transfers, directly contradicted by the bank's own transaction records.
The following exhibits demonstrate the contradiction between Truist Bank's stated justification for withholding funds and the objective transaction records.
Note: Counsel explicitly identifies "HSBC" as the originating bank and the party demanding return of funds.
Note: Official wire receipt identifies "KEB Hana Bank" as originator. No reference to HSBC exists in the transaction record.
The discrepancy between Counsel's representation (Exhibit A) and the objective transaction record (Exhibit B) constitutes a material misrepresentation of fact. This false statement has been cited as the sole justification for the continued retention of client funds. Under applicable banking regulations and common law principles of conversion, a bank may not rely on demonstrably false assertions to deny a customer access to legitimate deposits.
Chronology of events regarding Account #11800097382844
Legitimate wire transfers totaling $646,006.77 received from Korean partners TYM Corp and Root Corp via KEB Hana Bank.
Truist blocks the account citing vague "suspicious activity" with $194,253.11 remaining. No specific reason provided to account holder.
Comprehensive documentation of legitimate business activities submitted to Truist. Request for release of funds ignored.
Truist's counsel claims "HSBC" demanded funds back. This statement contradicts the wire documentation proving KEB Hana Bank was the originator.
Fraud discovered. Formal settlement demand issued citing material misrepresentation. Regulatory complaints prepared for filing.
Quantifiable harm resulting from unlawful retention of funds.