Ayala Law Featured on Law360 for Representing Nicaraguan Businessman in Federal Case Against Citibank

We’re proud to share that one of our firm’s ongoing federal cases was recently featured on Law360, a leading national legal news outlet known for covering significant developments in the legal industry. The article, written by Katryna Perera, highlights a case in which our attorneys, Eduardo A. Maura and Luis F. Quesada, represent a Nicaraguan businessman in a lawsuit against Citibank concerning the freezing and subsequent closure of his accounts containing over $270,000.

The Case at a Glance

According to the complaint, our client alleges that Citibank froze and later closed his accounts without explanation, despite his compliance with the bank’s requests and repeated attempts to obtain clarification. To date, the funds have not been returned. The lawsuit, filed in the U.S. District Court for the Southern District of Florida, seeks recovery of the withheld funds, attorney’s fees, and a jury trial.

This case highlights an issue that many business owners and international clients face: unexplained account freezes or closures by large financial institutions. For those who rely on timely access to capital, these situations can disrupt business operations and create significant financial and reputational harm.

Legal Remedies Exist for Business Owners

While banks have broad discretion to monitor and suspend accounts under certain regulatory frameworks, they are not immune from legal accountability. Florida law provides mechanisms for clients to recover wrongfully withheld funds, including claims for recovery of bank deposits and actions for declaratory judgment.

As attorney Eduardo A. Maura, who leads our firm’s commercial and banking litigation practice, explains, “Financial institutions have significant power, but that power is not absolute. Business owners, especially those who operate internationally, deserve transparency and due process. When banks withhold funds without cause, there are legal remedies available, and clients should not hesitate to pursue them.”

Common Triggers for Account Freezes

From our experience handling similar cases, account freezes often stem from compliance concerns, mismatched documentation, or overly cautious fraud prevention measures. In many cases, communication breakdowns or internal bank errors can escalate what should be a resolvable administrative issue into a prolonged financial dispute.

To help prevent such situations, businesses should:

• Maintain updated corporate documentation with all banks where they hold accounts.
• Ensure consistency between the business name, ownership structure, and identification documents.
• Promptly respond to bank inquiries about account activity or ownership changes.
• Keep thorough records of all communications with financial institutions.

Still, even with these precautions, account freezes can occur without valid justification, which is where skilled legal representation becomes essential.

Our Experience in Banking and Financial Litigation

Our firm has extensive experience representing business owners and investors in disputes against large financial institutions. In a recent case, we secured a $115,000 settlement in federal court against a multinational bank that had similarly prevented a client from accessing their own funds for over a year. That case involved claims under Florida Statutes Section 655.059, which governs recovery of bank deposits and account access rights.

Our goal in every banking dispute is to resolve matters efficiently, protect our clients’ interests, and, when possible, reach favorable outcomes early in the process to minimize costs.

If You’re Facing a Similar Issue

If you’re a business owner or investor facing issues with frozen or closed accounts, there are legal options available to help you recover your funds and hold financial institutions accountable. Our attorneys are experienced in navigating both the state and federal regulatory landscape that governs banking and commercial disputes.

For more information about this case, you can read the full article on Law360 here. 

If you’re facing a similar challenge or need advice regarding a business or banking dispute, contact one of our experienced attorneys in Miami at 305-570-2208.

You can also contact our founding attorney Eduardo A. Maura at eduardo@ayalalawpa.com.

Schedule a case evaluation online here.

[The opinions in this blog are not intended to be legal advice. You should consult with an attorney about the particulars of your case].