# Rosario Companies Sue First Horizon Over Alleged $6.52 Million Transfers

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/39348
Published: 2026-10-23T21:34:57.000Z
Updated: 2026-10-23T21:34:57.000Z
Section: Regulation

> The two companies allege 15 unauthorized wires over three days in March; more than $4.5 million remains unreimbursed.

Two companies tied to business owner Misael Rosario sued First Horizon Bank, alleging 15 unauthorized wire transfers totaling about $6.52 million over three days in March left more than $4.5 million unreimbursed.

K&A Rosario Holdings LLC and MJR Fund I Inc. allege in an amended complaint that callers impersonated Rosario and that First Horizon allowed the transfers from their accounts. The complaint says a caller contacted the bank on March 3, claiming to have a new cellphone. Within minutes, the accounts were accessed from an unfamiliar New York IP address.

The companies say law enforcement helped recover some of the funds. Their attorney, Victor Velarde, said the allegations raise questions about what First Horizon knew after earlier incidents and what measures it took to protect customers.

The amended complaint also alleges First Horizon had been notified in January about an earlier account takeover involving the trust account of law firm Rabideau Klein. The firm says about $17.28 million was wired out, with more than $6 million still missing. The Rosario companies allege $2.29 million of their funds went to the same overseas recipient involved in that incident.

Pending cases in Florida cover alleged unauthorized or fraudulent transfers exceeding $24 million from December 2025 through March.

Rosario, 68, founded Century Metals and Supplies 38 years ago. “We were totally in shock by the situation,” he said. He added that much of the money was intended for “my grandkids and our future.”

First Horizon has filed a motion for partial dismissal and says it intends to vigorously defend the case.