It’s the kind of story that makes your heart sink—and your blood boil.

Imagine working your entire life, carefully saving every dollar for your golden years—only to watch it disappear because of a cruel online trick.

That’s what happened to an 86-year-old grandmother from New York, who says she was robbed not just by con artists, but also by the very banks she trusted to protect her.

Now, she and her family are taking the fight to court, demanding answers—and justice.


Nina Mortellito’s ordeal began innocently enough, as so many of these stories do. In August 2023, a pop-up window flashed across her computer screen, blaring a dire warning: her bank accounts had been hacked.

For someone who grew up in an era when a handshake was as good as a contract, and banks were the ultimate guardians of your hard-earned money, the message was terrifying.

But this was no ordinary warning. It was the opening move in a sophisticated con, designed to exploit not just technology but human psychology—especially the trust and confusion that can come with age-related memory issues.

Over the next nine months, Nina was drawn deeper into the scammers’ web.

They convinced her, step by step, to withdraw her life savings—nearly $700,000—in a series of transactions that were as out-of-character as they were devastating.


Let’s break down how the fraudsters pulled off this heist:

• Merrill Lynch Accounts: Nina withdrew about $275,000, which the scammers told her needed to be “converted into gold bullion” for safekeeping. She wired another $150,000 from her TD Bank account to a gold dealer in Texas.
• Checks and Cash: She mailed a $30,000 check and took out over $100,000 from her UBS Bank accounts, all at the scammers’ direction.
• Unusual Activity: For decades, Nina’s withdrawals had never topped $5,000. Suddenly, she was making massive, frequent transactions—an obvious red flag.

What’s especially troubling is that the banks were already aware of her vulnerability. In 2022, they’d added her niece as a co-trustee to help monitor her accounts. Yet, according to the lawsuit, not a single alarm was raised as Nina’s savings disappeared.


Also read: How a Richmond scam exposed new dangers for older Americans

Nina’s family isn’t just angry at the scammers—they’re furious with the banks. “We are extremely disappointed the banks have not acted according to reasonable professional standards,” said Stephen Kuhn, Nina’s nephew-in-law.

“We are left with no choice but to bring this lawsuit, which we hope will bring real change to the banks’ policies and procedures, lessening the chances this will happen to others.”

The lawsuit, filed in Manhattan Supreme Court, accuses the banks of negligence. Nina’s lawyer, Robert Georges, put it bluntly: “The banks need to take reasonable steps to protect their customers, especially the elderly, who are uniquely susceptible to online scammers. Here, the banks repeatedly failed to exercise due diligence which caused [Mortellito] to lose her life savings.”

For Nina, the loss isn’t just financial. Her family says she’s been robbed of the simple joys that made her golden years special—nights at the theater, dinners with friends, travel, and the pleasure of giving gifts to loved ones.

Worse still, she’s been left with a heavy sense of guilt, a feeling all too common among scam victims, even though the real blame lies elsewhere.


Also read: How one scam drained a senior’s savings—and what you can do to stay safe

Financial experts and elder advocates say banks should:

• Monitor for Unusual Activity: Large, out-of-character withdrawals should trigger alerts and require additional verification.
• Train Staff: Employees should be trained to recognize signs of financial exploitation and know how to intervene.
• Empower Trusted Contacts: Adding a co-trustee or trusted contact should mean real oversight, not just a name on an account.
• Communicate Clearly: Banks should reach out directly to customers and their trusted contacts if suspicious activity is detected.

While waiting to see if Nina’s lawsuit brings about real change, there are steps you can take right now to protect yourself and your family:

1. Stay Skeptical of Pop-Ups and Unsolicited Calls: If you get a warning about your accounts, don’t click or call any numbers provided. Contact your bank directly using a trusted phone number.
2. Set Up Account Alerts: Most banks let you set up text or email alerts for large transactions.
3. Use Trusted Contacts: Make sure your bank knows who to call if they suspect fraud.
4. Talk Openly About Scams: Share stories like Nina’s with friends and family. The more totalk about these scams, the harder it is for fraudsters to succeed.
5. Check in Regularly: If you have older relatives, check in on their finances and encourage them to ask for help if something seems off.

Read next:

• “Ghost tapping” scam targets tap-to-pay users and steals money in seconds—here’s how to stay safe
• Medicare scams are spreading fast—here’s how to protect your benefits before fraudsters strike

Have you or someone you know been targeted by a scam? Do you think banks are doing enough to protect older customers? What steps have you taken to keep your money safe?