HSBC bank in Washington, D.C. Photo: Diego M. Radzinschi/ALM Judge Nixes Pot Dispensary's Attempt to Hold HSBC Responsible for $459K Lost in Phishing Scheme
"Simply put, Plaintiff's allegations do not establish when, where, or how HSBC allegedly became aware of the fraud and fail to explain how HSBC was involved at all, aside from being a 'respected financial institution.' Therefore, the Court finds that the allegations in Plaintiff's proposed second amended complaint are insufficient to establish a plausible claim of aiding and abetting against HSBC," wrote U.S. District Judge Timothy S. Hillman for the District of Massachusetts.
June 28, 2023 at 11:31 AM
5 minute read
A federal judge in Massachusetts denied a marijuana dispensary's motion for leave to file additional allegations against HSBC Bank, finding the plaintiff failed to show the financial institution had actual knowledge of fraudulent conduct relating to the transfer of more than $459,000 in a hacking scheme.
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