Alabama is among forty three states to collect money from a court settlement with the owners of an alternative online banking system called “Cash App.” Oregon and California led the action, which alleged that the parent company of the App , Block Incorporated, deceived customers on the safety of the system, failed to provide promised safeguards and resolution services required by law. The full amount of the suit is $43 million dollars. Alabama will receive just over $500,000 of that total. In the settlement, Block denies any wrongdoing.
The settlement follows the murder of the founder of Cash App in 2022 and the conviction of a technical consultant in 2023. A San Francisco jury found Nima Momeni guilty of second-degree murder in the stabbing death of Cash App founder Bob Lee, which carries a sentence of 16 years to life, rejecting the defendant’s claim that he had acted in self defense.
Jurors took seven days to deliver their verdict against Momeni in 2023, death of Lee, a beloved tech mogul who was found staggering on a deserted downtown street, dripping a trail of blood and calling for help. Lee, 43, later died at a hospital…