Consumer complaint received 2024-10-23
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: JPMORGAN CHASE & CO. (TX)

PLEASE SEE ATTACHED EMAIL SENT TO CHASE EXECS FOR FURTHER DETAILS ABOUT THE FRAUD ITSELF and the execs there's knowledge of it. But here is a " RECAP '' of how Chase failed our small veteran non-profit, forcing us to likely have to close our doors forever. 

I deposited a fraudulent {$95000.00} check at my local branch on XX/XX/year> thinking it was a donation from a nice donor named XXXX XXXX XXXX who XXXXXXXX XXXX the check. Pictures and details attached. 

Chase Bank held the {$95000.00} fraudulent check in PENDING for 4 days, then released/cleared the funds into our account, causing our funds to go from just over $ XXXX to XXXX. According to Chase 's own policies, this money was now ours. Screenshot of online banking transaction attached with totals showing funds released. 

The day after the deposit XX/XX/year>, the $ XXXX donor said his assistant made an accounting error and needed the $ XXXX back. I waited for his check to move out of pending before doing so, so on XX/XX/year> I felt confident in refunding his {$45000.00} via wire. The next day XX/XX/year>, Chase unexpectedly pulled the {$95000.00} back out, then putting it in a HOLD ( which is where it should have been in the first place... on HOLD ). This failure on their part caused us a loss of {$45000.00} ( Screenshot of online banking transactions attached ). 

Once we realized Chase pulled the money from our account on XX/XX/XXXX, we immediately recalled the funds with the Chase Fraud department. Chase failed us on that end too, saying it could take up to 10 days and that I would see updates on my Chase online message center. I never received a single update and every time I called them for one, they said " we are working on it '' and couldn't give me any other information. Nobody ever called to give us an update or ask us questions, or even send us an email about our claim status. I didn't even get a letter in the mail about my fraud or wire recall claim. There was no indication from anyone anywhere in Chase having lifted a finger to get us our money back. Unfortunately for us, the perpetrator was long gone, and we knew it. 

On XX/XX/year> we emailed Chase 's executive office to let them know what had happened and asked for answers. On XX/XX/year> we received a voicemail from XXXX ( no last name ) from Chase 's Executive Office saying " Hi, this message is for XXXX XXXX. This is XXXX with the executive office for Chase Bank. I'm calling in regards to the email you submitted to XXXX XXXX to let you know that we did receive it and I will be the one reviewing it. Once I have additional information, I will be in contact. Should you need to reach me I may be reached at XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. My extension is XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX thank you and have a great day. '' I called XXXX on Friday XX/XX/year> and left a voicemail asking for an update. On XX/XX/year> she called me back and would not tell me anything other than " we will call you when we have an update ''. I asked her when I might expect to hear from her and she told me Friday ( XX/XX/year> ). She seemed very annoyed at me for asking this. Today is now XX/XX/year> and we have not heard back. She has my email address as well and I have received no correspondence there either. 

It is not lost on us to make sure funds are released before refunding someone their money -- we did that. The problem here is that Chase took the money out of pending, and cleared it and then realized their mistake, put it now on HOLD, and then pulled it altogether. Chase is 100 % responsible for facilitating this loss, and doesn't appear to care. Our small veteran non profit has been victimized by a criminal and Chase Bank helped him ( albeit unintentionally ), but our XXXX veterans and first responders are the ultimate victims here. 

We need answers and we need accountability. Right now we feel like we are being intentionally ghosted and that Chase does not care about the wellbeing of their customer ( XXXX XXXX  ) or the people who are counting on us ( our Nations heroes, many of whom are Chase customers ). We quite literally are talking about having to close our doors because of this, as right now we have $ XXXX to last us until XXXX next year when we are expecting a moderately sized donation. Our next step is going to the media about this and asking the public for financial assistance if we do not get a resolution. 

NOTE : On XX/XX/XXXX, we also contacted the XXXX XXXX  the money was wired to and talked to management, we filed reports with the FBI, Texas Trade Commissioner, XXXX Police Department, XXXX Police Department, and the Texas Attorney General. We have done EVERYTHING we can do. 

XXXX to see what we do and who we help.