NAZARETH, Pa. - A county court in Northampton County has issued a preliminary injunction barring a customer of Nazareth National Bank and his six corporations from transferring any additional funds out of accounts at the bank and in New York and Montreal.
Nazareth is suing Thomas Neely and six companies he controls for allegedly defrauding the bank of $1.7 million by depositing overdrawn checks in Nazareth accounts and then transferring the money they didn't have to accounts at the Bank of New York and European American Bank.
The bank claims that Mr. Neely shuffled funds between the corporate accounts almost daily to make the accounts appear to have enough money.
Nazareth requested the injunction to stop Mr. Neely from sending the money out of the reach of the court and the bank.
Neither Mr. Neely nor any representatives of the six companies showed up in court, according to court documents.