New Lawsuit Against Bank of America for Seizing Canadian Coin Collector’s Assets

Accident – Death – Obituary News : : 1. Bank of America lawsuit
2. Bank of America assets dispute

A new lawsuit accuses Bank of America of seizing and withholding millions of dollars in assets from a Canadian coin collector, Levend Coskun. The complaint alleges that BofA took a collection of gold and silver coins from Coskun’s safe deposit box without proper notice when the branch in Garden City, New York closed. Despite claiming to have sent multiple notices, Coskun never received them. BofA allegedly drilled open the box, sent the coins to an out-of-state vault, and failed to provide any explanation or updates on the investigation. Coskun is seeking relief for the loss of the coins, loss of income, emotional damages, legal fees, and other damages.

A new lawsuit filed against Bank of America has brought to light a troubling incident involving the abrupt seizure of millions of dollars in assets belonging to a customer. The complaint alleges that BofA took possession of a safe deposit box belonging to Canadian coin collector Levend Coskun, containing a valuable collection of gold and silver coins, without providing proper notice.

The incident reportedly took place when BofA closed a branch in Garden City, New York, where Coskun’s safe deposit box was located. Despite the closure, Coskun claims that he was not informed about the fate of his assets, which were estimated to be worth around $3.6 million. According to his legal team, BofA allegedly failed to send any notices to Coskun, despite having his correct address on file and previous communication via mail.

After several unsuccessful attempts to reach out to Coskun, BofA reportedly resorted to drilling open the safe deposit box, seizing the coins, and transferring them to an out-of-state vault. It wasn’t until nearly three years later that Coskun was able to arrange a meeting with a BofA employee to retrieve his belongings. However, upon receiving a UPS package from the employee, Coskun discovered that most of the coins were missing, with the package weighing significantly less than expected.

Coskun alleges that BofA has been uncooperative in investigating the disappearance of the coins, despite opening an initial inquiry into the matter. The complaint accuses BofA of willful misconduct, gross negligence, breach of contract, and other charges, with Coskun seeking relief for the loss of the coins, loss of income, emotional distress, legal fees, and other damages.

The lawsuit highlights the importance of transparency and communication between financial institutions and their customers, especially when it comes to handling valuable assets. It serves as a cautionary tale for individuals entrusting their belongings to banks and safe deposit boxes, emphasizing the need for clear and timely notifications in case of closures or changes in storage arrangements.

As the legal battle unfolds, it raises questions about accountability and responsibility in the banking industry, shedding light on the challenges faced by customers in safeguarding their assets. The outcome of the lawsuit could have far-reaching implications for how financial institutions handle similar situations in the future, underscoring the need for greater transparency and adherence to legal protocols.

In the meantime, Coskun remains determined to seek justice for the loss of his valuable coin collection, hoping to hold BofA accountable for its actions and recover what rightfully belongs to him. The case serves as a reminder of the importance of vigilance and due diligence when entrusting assets to financial institutions, urging individuals to stay informed and proactive in protecting their interests.