A billion-dollar bank is now being sued after more than $200,000 vanished from a dead man’s account, according to a new report.
The estate of the late John Lindy Steward is suing FirstBank for allegedly refusing to reimburse a series of unauthorized transfers from his account – despite the bank being promptly notified of Steward’s death.
The Virgin Islands Consortium reports that Reverend Arlington Chaseau, the estate’s executor, alerted FirstBank of Steward’s death in May of 2021 and left the account untouched for over two years.
But in December of 2023, Chaseau received alerts of declined transactions due to insufficient funds.
He later discovered the balance had dropped below $100, and says the bank had not frozen the account after receiving the death certificate.
The lawsuit claims withdrawals began in September of 2022, including payments to a Discover credit card and ACH transfers to an external account.
FirstBank reportedly admitted the activity might be fraudulent but only launched an investigation after Chaseau filed a police report in June of 2024.
Last November, the bank pointed to a former teller suspected of siphoning $450,000 from Steward’s accounts since 2017.
The ex-employee was arrested in January 2025, now faces embezzlement charges and is currently awaiting trial. The lawsuit demands compensatory and punitive damages from FirstBank for its failure to act.
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