Forge Consulting planning legal action against Alex Murdaugh, Bank of America over fraud

COLUMBIA, S.C. (WCBD) – A financial company used by Alex Murdaugh to allegedly steal millions of dollars from clients said they are planning to take legal action against the former Hampton County attorney for fraud and a national banking institution for negligence.

Attorneys for Forge Consulting, LLC said Monday disbarred attorney Alex Murdaugh and Bank of America inflicted "serious harm" on the company's reputation and credibility for their parts in a scheme that used the "Forge" brand to bilk millions from clients and colleagues.

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Court documents, including dozens of indictments from a State Grand Jury, show Murdaugh set up fake bank accounts using the Forge name to commit numerous fraudulent transactions.

Among the cases was a scheme to steal million from the family of his former housekeeper, Gloria Satterfield, in which Murdaugh stole several million from an insurance settlement meant for the woman's family.

Forge attorneys said the decision was "key to his scheme's success" since Forge Consulting was a well-established and respected company that performed financial and fiduciary planning for attorneys and their clients.

"This is one of the worst case of defamation and character assassination I've seen," said Pete Strom, a former U.S. Attorney and founder of The Strom Law Firm representing Forge Consulting. "Forge Consulting did nothing wrong. But their reputation is under attack all because Alex Murdaugh stole their name and Bank of America let him do it."

Storm maintained that Murdaugh's plan would have failed had Bank of America exercised due diligence and confirmed whether Murdaugh's "Forge" was "who he pretended it was."

MORE: THE MURDAUGH INVESTIGATION

"We have been in business since 2003 building our reputation on professionalism, experience and integrity and we refuse to let anyone steal that from us," said Forge Consulting CEO Spooner Phillips. "We provide trust and fiduciary services and 'trust' is the key word."

Attorney Bakari Sellers, who is also representing Forge Consultants, said all Bank of America had to do was "make a phone call and that would have realized the truth."

"That negligence not only contributed to this massive fraud, it allowed Forge Consulting to be painted with the Murdaugh brush," he said.