#ponzischeme

🚨 Three US banks—Community Financial Services Bank, Mechanics Bank, and RABO AgriFinance—are being sued in a class action lawsuit for allegedly enabling a massive Ponzi scheme run by Kentucky businessman Brian McClain. 💰

McClain reportedly defrauded investors out of millions through a fake cattle investment scheme, promising high returns that never materialized. The banks are accused of ignoring red flags, allowing suspicious transactions, and even extending McClain over $70M in credit despite doubts about his cattle ownership. 🐄❌

The lawsuit claims the banks’ negligence helped sustain the scheme for years. McClain took his life in April 2023, and the fraud was exposed soon after. Investors are now seeking justice with compensatory and punitive damages. ⚖️