Evolve Bank & Trust fended off a lawsuit alleging it misused millions in funds belonging to customers at a financial technology company, including to cover a botched account transition at another fintech.
Yotta Technologies Inc. failed to adequately plead the “who, what, when, where, and how” of an alleged scheme by Evolve and bankrupt middleman Synapse Financial Technologies Inc. to siphon off money from Yotta’s customers, Judge Trina Thompson of the US District Court for the Northern District of California said in a ruling published in the case docket Monday.
“We are pleased that the judge granted our motion to ...
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