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Forge Consulting plans legal action against Alex Murdaugh, Bank of America for fraud – InsuranceNewsNet

COLOMBIA, South Carolina (WCBD) – A financial company used by Alex Murdaugh for allegedly stealing millions of dollars from clients said they plan to take legal action against the former Hampton County attorney for fraud and a national banking institution for negligence.

Lawyers for Forge Consulting, LLC the disbarred lawyer said on Monday Alex Murdaugh and Bank of America inflicted “serious damage” to the company’s reputation and credibility for their parts in a scheme that used the “Forge” brand to defraud millions of customers and co-workers.

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Court documents, including dozens of state grand jury indictments, show Murdaugh created fake bank accounts using Forge’s name to commit numerous fraudulent transactions.

Among the cases was a scheme to steal millions from the family of his former governess, Gloria Satterfieldin which Murdaugh stole several million from an insurance settlement intended for the woman’s family.

Forge’s lawyers said the decision was “key to the success of his project” since Forge Board was a well-established and respected firm that performed financial and trust planning for lawyers and their clients.

“This is one of the worst cases of defamation and personality attacks I’ve seen,” said Pete Stroman old WE Lawyer and founder of The Strom law firm representing Forge Board. “Forge Board did nothing wrong. But their reputation is under attack because Alex Murdaugh stole their name and Bank of America let it.”

Storm argued that Murdaugh’s plan would have failed had Bank of America done its due diligence and confirmed whether Murdaugh’s “Forge” was “who he claimed it was”.

MORE: THE MURDAUGH INQUIRY

“We’ve been in business since 2003, building our reputation on professionalism, experience and integrity and we refuse to let anyone take that away from us,” said Forge Board CEO Phillips spoon. “We provide fiduciary and fiduciary services and ‘trust’ is the key word.”

Lawyer Bakari vendorswhich also represents Forging Consultantssaid all Bank of America had to do was “make one phone call and it would have realized the truth.”

“This negligence not only contributed to this massive fraud, it enabled Forge Board be painted with the Murdaugh brush,” he said.