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American Focus > Blog > World News > Exclusive | NYC granny loses life savings to online scam — and she’s placing the blame on banks: lawsuit
World News

Exclusive | NYC granny loses life savings to online scam — and she’s placing the blame on banks: lawsuit

Last updated: October 4, 2025 1:21 pm
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Exclusive | NYC granny loses life savings to online scam — and she’s placing the blame on banks: lawsuit
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An 86-year-old grandmother from the Upper East Side has lost her entire life savings to ruthless online scammers and is now suing her banks for their negligence.

The elaborate scam began in August 2023 when a pop-up message on Nina Mortellito’s computer misleadingly alerted her that her bank accounts were compromised, according to a lawsuit filed in Manhattan Supreme Court on Friday.

Over a span of nine months, Mortellito, who struggles with memory issues associated with her age, was persuaded by the fraudsters to withdraw nearly $700,000 through a series of unusual transactions, sending the money as instructed for supposed safekeeping, court filings reveal.

86-year-old Nina Mortellito was defrauded of her life savings—alleging bank negligence in her lawsuit. Courtesy of Robert Georges

She extracted approximately $275,000 from her Merrill Lynch accounts, convinced by the scammers that her money needed to be converted into gold bullion for security. Additionally, she wired $150,000 from her TD Bank account to a bullion dealer in Texas as per the scammer’s directions, according to court documents.

Further, Mortellito mailed a check for $30,000 and withdrew over $100,000 from her UBS Bank accounts, all under the guidance of the fraudsters, the lawsuit states.

These large and sudden withdrawals were highly atypical for Mortellito, who had never withdrawn more than $5,000 from her TD Bank accounts in over 30 years, nor in the two decades she had been a customer at UBS, court documents assert.

The banks were aware of her susceptibility to scams and added her niece as a co-trustee for increased “oversight and financial safeguards” in April 2022, according to the lawsuit.

Yet, no one at the banks flagged these alarming transactions, the lawsuit alleges.

See also  Greens claim $700m 'uncosted hole' in Budget

Mortellito’s transactions were grossly out of character as she transferred $275,000 to scammers, as indicated in court documents. Getty Images

“We are extremely frustrated that the banks failed to uphold reasonable professional standards. Consequently, we felt compelled to file this lawsuit, which we hope will lead to genuine reform in the banks’ policies and practices to protect others from similar fates,” stated Stephen Kuhn, Mortellito’s nephew-in-law.

Mortellito has been stripped of her financial ability to engage in beloved activities like attending the theater, dining with friends, traveling, and gifting, and has been struggling with “a profound sense of guilt” since becoming a victim of the scam, her family shared with The Post.

She and her attorney are pursuing unspecified damages from the banks, holding them responsible for negligence.

Mortellito’s family expressed that she has been battling “a heavy sense of guilt” since falling victim to the scam. Courtesy of Robert Georges

“Banks must take essential measures to safeguard their customers, particularly the elderly, who are particularly vulnerable to online fraud. In this instance, the banks consistently failed to act with due diligence, resulting in [Mortellito] losing her life savings,” remarked her attorney, Robert Georges of Konta Georges & Buza PC.

“We commend our client and her family for their courage in coming forward, and we will ensure these institutions are held accountable,” Georges added.

Bank of America, which owns Merrill Lynch, did not respond to The Post’s request for comment on Friday.

UBS Bank declined to comment, and TD Bank stated it does not discuss ongoing litigation.

TAGGED:banksBlameexclusiveGrannyLawsuitLifelosesNYCOnlineplacingSavingsscamShes
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