$120,000 Vanishes From Woman’s Bank Account, Banking Giant Says Account Will Be Terminated: Report - The Daily Hodl

The Daily Hodl
The Daily Hodl

17 Sep 2023 12:04 AM

A woman in Arizona says her life savings of $120,000 has disappeared from her bank account – and her bank is now giving her the boot. Margaret Lomax says she transferred the money to her Citibank account from a regional California bank called Farmers & Merchants, reports the CBS-affiliated news station KPHO. Lomax says her […]...

  • Margaret Lomax from Arizona claims that her life savings of $120,000 disappeared from her Citibank account after transferring it from Farmers & Merchants bank.
  • Lomax initially saw the money in her Citibank account, but it vanished shortly after, leading to her debit card being declined.
  • Citibank sent Lomax a notice stating that she breached their terms of agreement, the money was returned to its rightful owner, and her account would be terminated in 60 days.
  • Lomax contacted Farmers & Merchants, who informed her that the money is gone.
  • Both banks are now investigating the matter.

The article describes a distressing situation where a woman's life savings disappear from her bank account, leading to her account being terminated. The sentiment is negative, reflecting the frustration and anxiety experienced by the woman.

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You May Ask

What happened to Margaret Lomax's life savings?Which banks were involved in the transfer of funds?Why did Citibank terminate Lomax's account?What is the current status of the investigation into the missing funds?How many Suspicious Activity Reports (SARs) were reported in 2021, and what percentage of them result in follow-ups?

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