Consumer complaint received 2020-07-24
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: JPMORGAN CHASE & CO. (NY)

I found a boat on XXXX for sale. I spoke with the owner via emails, XXXX, through more than 20 emails. He informed me that the sale would go through the company XXXX XXXX XXXX for the financial transaction. I looked at the company website, proautodepot.com, and everything seemed legit. I spoke with a rep at XXXX XXXX XXXX, who called me back after I left a voice mail. He instructed me on how to complete the transaction. I registered on the website and started the process. I did a title search on the boat and trailer and nothing came out of sorts. I received payment information by email from XXXX XXXX XXXX payment center. I called JP Morgan Chase bank on XX/XX/XXXX and spoke with a representative from the bank concerning the wire transfer and account. I informed the Chase Bank representative of my intention to buy a boat and wire the money to Chase Bank the next day or two. I gave them the bank account number, XXXX, and the Beneficiary Name, XXXX XXXX XXXX XXXX. I said that I was nervous about wiring so much money for a boat that I never saw in person. The agent told me that the account was A XXXX XXXX XXXX   I asked what that meant and they stated that the account passed all of the qualifications of Chase Bank as a verified business. I instructed my bank, XXXX, to complete the wire transfer to the Chase bank account, on XX/XX/XXXX, for the amount of {$25.00}, XXXX. I received a conformation Wire Transfer from Chase Bank, with the Beneficiary information clearly stated as : XXXX XXXX XXXX XXXX, XXXX  XXXX, XXXX XXXX XXXX, XXXX XXXX, NY XXXX United States. It also stated that, in the section Originator to Beneficiary section, XXXX XXXX XXXX XXXX. ( nothing to do with real estate, which the bank should also picked up on and Red Flagged ). I could log into the website to check the transaction. The boat was supposed to be in XXXX, NY at a storage facility. I did not travel to see the boat in person. All pictures were online. According to the XXXX XXXX XXXX website and the person, XXXX, I spoke with ; I had a 7 day money back guarantee, after I took possession of the boat. I received through emails, a bill of sale and conformation. I was able to log into the XXXX XXXX XXXX website to see my transaction status for a month after I found out it was a scam. The boat was supposed to be delivered on XX/XX/XXXX by XXXX, but I received an update on the XXXX  XXXX XXXX on the transaction page that the truck, transporting the boat, was involved in a minor accident with a car hitting the tire of the truck. I was informed that the truck needed to be fixed and that my boat would arrive on XX/XX/XXXX by XXXX. On XX/XX/XXXX around XXXX XXXX I was informed, via the website transaction status that, XXXX XXXX XXXX wants to inform me that due to the unexpected accident from XXXX XXXX the delivery of the item can not take place. According to the accident report received from their insurance company, the item suffered damages and they are not allowed to deliver the item in such conditions. Consequently, their insurance company has automatically started the refund process for my transaction. '' It also states that the refund process will be initiated to the same bank account where my money came from, and would take from 1 to 3 business days. On XX/XX/XXXX, updated on the transaction status, it states the refund of the funds has been initiated on XXXX, XXXX XXXX, XXXX, and that I should receive it in my account by XX/XX/XXXX XXXX. I, again, contacted JP Morgan Chase Bank, on XX/XX/XXXX, as I was more nervous of the transaction and gave them the bank account number, XXXX, and the Beneficiary Name, XXXX XXXX XXXX XXXX, and told them of what was happening with the boat transaction. They then informed me that the account was NOT ACTIVE. I asked what that meant. They stated that it was on HOLD. I told them that I was worried about a possible scam through their bank with the transaction. I asked about the account to see if anything didnt look right on their end. At this time the agent informed me that the account number was correct but the name on the account did not match the name on the wire transfer. The account name was not XXXX XXXX XXXX XXXX. I asked if they could tell me the name on the account, but they said that SINCE YOU ARE NOT THE ACCOUNT HOLDER, I COULDNT GIVE YOU THE NAME, BUT I COULD TELL YOU THAT THE NAME IS NOT EVEN CLOSE TO XXXX XXXX XXXX XXXX, BUT THE NAME OF A REAL ESTATE TYPE COMPANY. ON XX/XX/XXXX, the transaction status was changed to read that the money would be received into my account by XX/XX/XXXX XXXX. On XX/XX/XXXX, the Transaction status, was changed to " it should reach my account within the next 5 business days ''. I have been in touch with my credit union all along the way. They kept saying that I don't need to start a fraud investigation yet as they are still in correspondence with me and that Chase Bank did not Red Flag the transaction. A member from the fraud department contacted me on XX/XX/XXXX, after I did not receive the money. I gave her all the information. She contacted the Chase Bank and did a return request for the funds, but was informed by the Chase bank that they are no funds in the account and that the account holder started paperwork to close the account. The XXXX fraud department rep then informed me that I need to file a police report to get more information about the case. I then filed reports with the XXXX, FTC, FCC, Internet Crimes Unit IC3 Complaint Referral Form, Chase Global Securities Division on XX/XX/XXXX and spoke with XXXX, and Chase Bank Fraud Department on XX/XX/XXXX. I spoke with XXXX at the Branch Complaint Escalation group, XXXX ext. XXXX, where they assigned my case number XXXX. I did not hear back from them. I again spoke with Chase Global Securities Division on XX/XX/XXXX, with XXXX. XXXX forwarded me to the Corporate Office Complaint Department. At the Complaint department I spoke with XXXX ext XXXX. She assigned me case number XXXX and said that she was taking over my case. On XX/XX/XXXX I spoke with, XXXX, at the Chase Branch in XXXX, NY XXXX. I explained the situation to him. He stated that he spoke with his manager and was instructed to email the Corporate Office the situation. He took down all my information and stated that he emailed the higher ups about it. On XX/XX/XXXX, I spoke with XXXX, the manager at this branch. He stated that the information was sent to people above him and that they needed to handle this case. 
I also informed Attorney General XXXX XXXX and Representative XXXX XXXX on XX/XX/XXXX about the situation with Chase Bank. I filed a police report at the XXXX precinct in XXXX, with both Detective XXXX and Financial Crimes Officer XXXX. Officer XXXX recently informed me that he filed a subpoena with Chase Bank for the Account Holder Business Name and further information concerning transfer of the money from the account. He said that it sometimes takes a month of so for the bank to respond. I informed XXXX of the scam as well at XXXX XXXX ( the company whom the seller was using a fake email address through ). At this time about 11 people throughout the country have been victims of fraud/scam through this same company, according to the XXXX  Scam Alert. I am not sure if all the money was wired to Chase Banks, but would worth looking into it. 

After speaking with multiple departments in Chase Bank to get my money refunded, they said that the Corporate Office department was taking over my case. The person I was dealing with was XXXX, XXXX, ext XXXX. My case number is XXXX. I explained to her the entire case, sent her my forms, told her about the phone calls to Chase on XX/XX/XXXX and XX/XX/XXXX. I also told her about the fact that according to Commercial Code Sections 11101, Section 11207 ( a ), Misdescription of Beneficiary ; stated that the name, or other identifying information refer to nonexistent or different people, and the bank has any prior knowledge, that the bank is liable, as it is liability of banks receiving money in a wire fraud scheme. 
After a week of investigating, XXXX called me to state that they are closing my case and they dont believe they are liable. She stated that she had no record of me contacting them on XX/XX/XXXX. I informed her that I have a 19min 48sec phone record to prove that I in fact spoke with a rep on XX/XX/XXXX. She stated that, in fact if I did speak with a rep that they should not have given me confidential information over the phone, regarding another persons account. I said to her that If I didnt speak with the representatives on the given dates how would I have known that it was a XXXX XXXX XXXX on XX/XX/XXXX, and Not Active/On Hold on XX/XX/XXXX. I told her that I was contacting a lawyer. She said that my case can be re-opened at any time. I know that when I called it was stated that the call would be recorded for training purposes. I called from my cell phone and Chase Bank should have a record of the call, somewhere. My phone record shows my call, as proof, which is attached. I have already spoken with lawyer, XXXX XXXX, XXXX XXXX XXXX XXXX, CA concerning the Liability of Banks receiving money in a wire fraud scheme. I also, attained a lawyer from XXXX, XXXX, and XXXX to sue JP Morgan Chase Bank. Besides, contacting more Congressional leaders, I started the process of contacting the media to publicize the extent of this Fraud Scheme throughout the country by organized crime, and the poor handling by JP Morgan Chase bank to protect its consumers and lack of help in rectifying their mistake. I am also in the process of contacting the other 10 victims throughout the country to see in fact if they were all victims of the Fraud Scheme through the use of Chase Bank.