National Accident Insurance Underwriters, Inc. v. Citibank, F.S.B.

MEMORANDUM ORDER

BOBRICK, United States Magistrate Judge.

Before the court is the motion of defendant Citibank, F.S.B. to dismiss the complaint of plaintiff National Accident Insurance Underwriters, Inc.

One of plaintiffs employees, Robert Carter, intercepted certain insurance premium checks that plaintiffs customers had made payable to plaintiff. He was not involved in any facet of plaintiffs business that gave him authority to endorse or negotiate the checks. He altered those checks by adding a “slash” (J) and additional payees, such as “Sherman” or “Sherman Imports, Inc.” These alterations…