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We could ask why the bank allowed the money to leave for the same reason.

It sounds like the bank accounts were owned by the guy's employer and he was perceived to be authorized to transact on the employer's behalf.

The coinbase account was also 'owned' by the guy's employer.

He opened up the account in the employer's name, submitted notarized documents, etc.

Ah, that is true. Full court doc for anyone interested in reading https://www.documentcloud.org/documents/21165768-us_vs_rei_i...