I used an ATM at Chase Bank in New York City on November 19th, 2024.
Charlie Tribrorow | AFP | Getty Images
JPMorgan Chase began suing customers this week who have been accused of stealing funds from the country’s biggest bank for last year’s so-called “endless money glitch.”
Banks are currently chasing customers who cost less than $75,000 in the amount, rather than the federal venue they chose last year, according to people with knowledge of the company’s deliberation.
Glitch, which went viral in a video posted to social media in late August, was able to pull out the entire value of fraudulent checks before customers bounce back.
“On August 29, 2024, a masked man deposited a check of $73,000.00 in the defendant’s Chase Bank account,” the bank said in a lawsuit filed Tuesday afternoon in Gwinnett County, Georgia.
By the time the check bounced six days later, a series of cash withdrawals totaling $82,500 was made at two state Chase branches.
The accuser is owed $57,847.69 to the bank and is not complying with requests to return the funds, according to the lawsuit.
In addition to the Georgia case, the bank is filing a lawsuit at a state venue in Miami, Florida. Bronx, New York. And those who refused to identify two Texas counties to talk about their bank plans, said.
This episode highlights the length of time that JPMorgan owes and prevents future crime. The bank has seen thousands of potential cases and chose to litigate the largest amount with the clearest theft pattern, familiar said.
The bank has also written letters since October to more than 1,000 customers requesting that the funds be repaid, the person said. Some people returned the money themselves after CNBC reported they were chasing potential con artists who cut their biggest amounts in October, the person said.
The lawsuit is separate from potential criminal cases that both federal and state law enforcement may be pursuing, according to the bank.
“We still investigate cases of fraud and work with law enforcement. We will do that as long as it takes to hold the fraudsters liable,” Drewp Satelli, a spokesman for the New York-based bank, said in a statement.
Bankruptcy Shield?
JP Morgan is also opposed to bankruptcy filings for several “infinite money” scammers.
In one of the bank’s claims this week in the Bankruptcy Court in Grand Rapids, Michigan, the company asked the judge more time to oppose an attempt to exempt clients from debt.
The bank was “an “unsecured claim holder” arising from a lawsuit in which the debtor deposits a fraudulent check of $44,779.46, and the debtor immediately made a number of cash withdrawals on August 30, 2024, and the bank claimed.
“There’s a real, important reason why people use bankruptcy protection,” said Jpmorgan’s Pusateli. “It’s not one of them to remove the debts accumulated through fraud.”
