Dallas-based Comerica Inc.'s subsidiary, Comerica Bank, issued a response to what it alleges is an ongoing brand infringement operation being executed across Asia by a group known as VRB cryptocurrency.
According to Comerica, the cryptocurrency group falsely claims to have the bank's financial backing in an attempt to draw further investment and increase VRB's legitimacy. The bank also alleges that VRB has hired actors to impersonate Comerica employees at events it hosted in Malaysia, the Philippines, Vietnam and Japan.
"Comerica Bank does not have an affiliation with VRB cryptocurrency, and any attempt to represent it as such is false and fabricated," the bank said in a statement.
