The former co-owner of the Brooklyn Nets, who spent millions on Citibank credit cards, claims that Citibank “unceremoniously dumped” him and 29 million “Thank You Points” worth $300,000. There is.
Arthur RabinThe Wear Me Apparel co-founder, who sold his interest in Brooklyn's basketball team several years ago, has made between $200,000 and $300,000 a month from his Citi Prestige card since opening the account in 2015. He claims to have lost millions of dollars in total before the card was issued. It was closed this year.
Once a big-money backer of Hillary Clinton's presidential campaign, he sold a string of Hamptons properties in 2022 with his son Jason for a whopping $118 million, creating a city center that customers can redeem for travel. I earned points through my bank's points program. Gift cards, cashback, and other perks.
“Citibank partners with 17 airlines and hotels, making its Thank You Points one of the most valuable when compared to similar flexible rewards programs offered by other banks. '' he said in a lawsuit he filed this week against Citibank in Manhattan Supreme Court.
But the problems began about a year ago when Ms. Lavin began reporting fraudulent charges on her credit card, which had a limit of $2 million.
By August, Citibank had shut down the card, citing too many problems.
“Due to the account being closed multiple times in the past few months due to loss, theft, or unusual activity, we were unable to recover the account,” Citibank said in the letter.
To add insult to injury, Mr. Lavin claims that the bank continues to bill his balance, including charges of approximately $151,000 that he has repeatedly reported, denying him the value of his Thank You Points.
“In a classic case of victim blaming, Citibank is now accepting payments for these payments, even though the amounts in question are miniscule compared to what Mr. Rabin subsequently spent on his cards on an annual basis. “We have rejected many of the disputes in 2015,” he said in court documents.
Citibank declined to comment on the lawsuit.
