Business Insider: A 77-year-old lost $390,000 of his retirement savings after picking up a scam call. Now he wants to help others.
June 9, 2026
In “Business Insider: A 77-year-old lost $390,000 of his retirement savings after picking up a scam call. Now he wants to help others.” (Business Insider, June 9, 2026), Business Insider discusses Maas v. Patel et al., a lawsuit brought by Mr. Maas, a 77-year-old retiree from New Jersey, after he lost half of his life savings in an elaborate scam.
The lawsuit, Maas v. Patel et al., was filed in New Jersey Essex Superior Court against PNC Financial Services Group, American Coin & Stamp Co., Inc., and Jaynesh Patel, an individual arrested in connection with the scam. The lawsuit alleges negligence on the part of the bank and precious-metal dealer for failing to detect and help prevent elder financial exploitation.
The plaintiff, Mr. Maas, is represented in this matter by Pollock Cohen LLP partner Steve Cohen. Cohen said PNC Financial Services Group and American Coin & Stamp Co. “ignored all the red flags.”
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