Consumer complaint received 2023-01-04
Company: JPMORGAN CHASE & CO.
State: WA
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
In late XXXX, I requested a XXXX rollover from my previous company ( XXXX, managed by XXXX XXXX ) to my current companys XXXX which is managed by XXXX. Two checks addressed to XXXX ( issued by JP Morgan Chase ) were mailed to me, I mailed the checks and a rollover form to XXXX in late XXXX and they were received by XXXX on XX/XX/XXXX. XXXX, however, " rejected the transaction '' because it was missing the " Confirmation of after-tax cost basis from prior account ''. In later correspondence, XXXX claims to have mailed my XXXX checks back to me via USPS First Class mail on XX/XX/XXXX. The checks never arrived at my address. 

In XXXX, after still not receiving my checks, I requested a stop payment and reissue from XXXX. After that I received 1 of the 2 checks. After waiting another several weeks and inquiring with my postal carrier, I called XXXX again and requested a second stop payment and reissue of the second check. The following day, XX/XX/XXXX I was informed that the second check could not be reissued because it had been " cleared '' on XX/XX/XXXX. 

The exact message was : " This message is to inform you that your issue has been resolved and the gross amount of {$30000.00} was cleared on XX/XX/XXXX under the clear reference # XXXX, check # XXXX. '' At this point I tried to initiate a fraud complaint with XXXX, they said they could not open an investigation because the fraud did not originate with them. They instructed me to go back to XXXX to inquire further about the missing check. I reached out to XXXX several more times and provided a scanned image of the deposited check- they still claim to have no record of the deposited funds. The deposited check also has a " wet '' signature vs a stamp so XXXX is stating that this proves they didn't deposit the money. 

There were two checks, both made out to : XXXX XXXX XXXX XXXX XXXX in the amount of {$3800.00} ( which is accounted for ) and {$30000.00} ( which is missing and has been cashed ). 

The scan of the forged and fraudulently deposited check has a " wet '' signature ( an illegible scribble ) and a stamp on the back which appears to read " XXXX ''. ( XXXX informed me on XXXX that this stamp was from their check processing office and not from the bank where the check was deposited ). 

XXXX claims the checks were mailed to my home address XXXX XXXX XXXX XXXX, XXXX XXXX XXXXXXXX. This address is under construction however, so my mail is being forwarded to a house I am renting one street over : XXXX XXXX XXXX XXXX, XXXXXXXX XXXX XXXXXXXX. There is a single mail carrier for both streets, I am able to check both mailboxes, the checks never arrived at either mailbox. 

The XXXX checks were made out to XXXX XXXX XXXX XXXX ( though in fact the request to XXXX  was for the checks to be made out to XXXX XXXX XXXX XXXX XXXX ). The bottom line is that JP Morgan Chase and XXXX XXXX allowed a third party entity that was not XXXX or me to deposit and clear a stolen and forged XXXX check for {$30000.00}. The forged wet signature in the endorsement line is inconsistent with the type of stamped signature that XXXX would have used. 

In addition to following up with both XXXX and XXXX, I have filed numerous reports and complaints, these include : - Police report # XXXX filed on XXXX with the XXXX Police Department XXXX Washington State XXXX, XXXX XXXX XXXX XXXX ( XXXX ). 
- USPS Office of the Inspector General Complaint filed electronically on XXXX. 
XXXX XXXX XXXX XXXX XXXX ( XXXX  ) complaints filed electronically on XXXX ( three separate complaints filed against XXXX - # XXXX, JP Morgan - # XXXX, and XXXX XXXX  ). 
- XXXX XXXX XXXX XXXX XXXX XXXX - sent email complaint to XXXX on XXXX. 
- US Department of Labor XXXX XXXX XXXX XXXX ( XXXX XXXX XXXX ) - Filed request for assistance ( # XXXX ) electronically on XXXX. 
- Submitted a signed and notarized Affidavit of Unauthorized Endorsement form to JP Morgan via fax and XXXX XXXX via customer portal on XXXX. 
XXXX XXXX XXXXXXXX Attorney General Complaint filed electronically on XXXX. 

I have tried to directly reach out to the XXXXraud and Forgery department at JP Morgan Chase to investigate- they have stated they won't communicate directly with me. XXXX has been very slow to respond. XXXX has conducted investigations but has been very selective about what information they will share. It feels as though they are unprepared for handling this type of situation. 

Questions I have : - Why did JP Morgan Chase and XXXX XXXX allow a XXXX rollover check addressed to XXXX to be deposited and cleared by an entity other than XXXX with an endorsement that is completely inconsistent with what a major financial institution would use? 
- Why did XXXX XXXX take 8 weeks to notify me that my missing check ( which I had twice requested a stop payment and reissue ) had been cleared/stolen? 
- When/how can I get my funds restored? The check was intercepted in transit and forged and deposited without a proper endorsement. 

I would like to be contacted at your earliest convenience to hear what the next steps are. Please advise me on how I can move forward to get my funds restored.

Company response to consumer: Closed with explanation