Lawsuit accuses Bank of America’s Alex Murdaugh of damaging reputation of financial firm


CHARLESTON, SC (WCSC) – Lawyers representing a consulting firm say they are taking legal action against former Lowcountry lawyer Alex Murdaugh and Bank of America.

In a statement from law firm Strom, lawyers for Forge Consulting say the financial firm has suffered serious damage to its reputation and credibility from Murdaugh and the bank.

“This is one of the worst libel and libel cases I’ve seen,” attorney Pete Strom said. “Forge Consulting did nothing wrong. But their reputation is under attack because Alex Murdaugh stole their name and Bank of America let him.

Lawyers say Murdaugh created a fake bank account using the Forge brand to extort millions of dollars from his clients and colleagues.

The lawsuit says Murdaugh’s plan could have been discovered had Bank of America done its due diligence to confirm the account was real.

“All Bank of America had to do was make a phone call and they would have realized the truth,” said attorney Bakari Sellers, who also represents Forge Consulting. “This negligence not only contributed to this massive fraud, it allowed Forge Consulting to be painted with the Murdaugh brush.”

“We’ve been in business since 2003, building our reputation on professionalism, experience and integrity and we refuse to let anyone take that away from us,” said Spooner Phillips, CEO of Forge Consulting. “We provide fiduciary and fiduciary services and ‘trust’ is the key word.”

Murdaugh’s legal team did not respond to a request for comment.

Bank of America declined to comment on the lawsuit.

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