Matthew Kenney v. Bank of America, N.A.

I. Background

A. Factual Background This case involves an underlying embezzlement scheme allegedly committed by Plaintiff’s former employee, Matthew Bronfeld (“Bronfeld”). See Dkt. # 1-1 (“Compl.”), ¶¶ 12–36. The Complaint alleges: Plaintiff is a business owner who “operates” more than thirty Bank of America accounts “for individual purposes, business banking, and the banking of affiliated entities.” Id. ¶¶ 10, 12. Bronfeld exercised complete control over Plaintiff’s business accounts without Plaintiff’s consent. Id. ¶ 15. Through a series of transactions (including wire transfers, ACH payments, cash withdrawals, debit card transactions, countless money transferring transactions, and Zelle transactions), Bronfeld

CIVIL MINUTES – GENERAL

Case No. 2:25-cv-02726-MWC-PVC Date: May 23, 2025 Title Matthew Kenney v. Bank of America, N.A. misappropriated millions of dollars that Plaintiff believed to be protected by Defendant. Id. ¶ 16. Defendant’s internal controls were so deficient that Bronfeld altered credentials, redirected debit card functions, and issued bank statements that facilitated the fraudulent transfers. Id. ¶ 17. Despite being…