The Allegations Against Fifth Third Bank
A Chicago suburb is taking legal action against Fifth Third Bank for allegedly enabling its former mayor, Tiffany Henyard, to steal $1.9 million in public funds. Between April 2022 and May 2023, Henyard, during her tenure as mayor of Dolton, Illinois, is accused of misappropriating village funds by cashing over 250 checks to vendors without the required signature of Village Clerk Alison Key.
Fifth Third’s Alleged Negligence
The Village of Dolton claims that Fifth Third was aware of Henyard’s actions but chose not to investigate or report her transactions. The bank allegedly allowed Henyard to authorize checks without the necessary signatures, leading to the loss of taxpayer dollars and additional debt for Dolton.
The Lawsuit Against Fifth Third
In the lawsuit, Dolton accuses Fifth Third of acting against commercial banking standards, breaching its contract, and aiding Henyard in her misappropriation of funds. Despite the absence of dual signor requirements in the bank’s agreement with Dolton, the village asserts that Fifth Third should have taken action to prevent the unauthorized transactions.
Henyard’s Controversies
Henyard, who is not named in the lawsuit, has faced other legal troubles, including a federal investigation into a payment to a contractor involved in bribery. Former Chicago Mayor Lori Lightfoot conducted a noncriminal investigation that revealed Henyard’s excessive spending and lack of oversight in managing Dolton’s finances.
Response from Village and Fifth Third
The village declined to comment on the litigation against Fifth Third, while a spokesperson for the bank dismissed the claims as lacking merit and stated their intention to seek dismissal.
For more information, you can read the full article here.
