Consumer complaint received 2019-06-28
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: JPMORGAN CHASE & CO. (IL)

On XX/XX/2019, XXXX XXXX drove from XXXX, MN to a Chase Bank branch office in XXXX XXXX, WI. XXXX XXXX presented a Chase Bank employee with a letter and documents " showing '' that he was a majority owner in the company XXXX XXXX XXXX , XXXX, an Illinois limited liability company ( " XXXX '' ). The document that Mr. XXXX presented was on XXXX letterhead, created by Mr. XXXX himself. The Chase Bank employee looked up XXXX on the Illinois Secretary of State website and noted to Mr. XXXX that he was NOT ( 1 ) a Manager listed on the state 's website, nor ( 2 ) a signatory on the account. Mr. XXXX persuaded the Chase Bank employee that the Illinois Secretary of State website was incorrect and that the documents that Mr. XXXX had provided should show that he should be added as a signatory. 

Two days later, on XX/XX/2019, the XXXX XXXX Chase Bank added Mr. XXXX as a signatory. In those two days, Chase Bank never contacted the sole signatory on the account to verify whether Mr. XXXX should be added as a signatory. In those two days, Chase Bank never contacted the Manager listed on the Illinois Secretary of State website to verify if Mr. XXXX should be added as a signatory. In those two days, Chase Bank never contacted the Chase Bank branch office where the business account was opened and maintained to verify whether Mr. XXXX should be added as a signatory. Instead, Chase Bank added Mr. XXXX as a signatory, and then proceeded to request {$10000.00} in cash and the remaining funds in the account ( approximately {$22000.00} ) to be provided to him in a cashiers check. Chase Bank complied, and provided {$10000.00} cash to Mr. XXXX and provided the remaining amount in a cashier 's check. 

XXXX learned of the fraud on Thursday, XX/XX/2019 and immediately contacted Chase Bank to report it. Chase Bank stated that someone would be in touch, providing the name " XXXX '', but that as an initial matter " Mr. XXXX provided Chase Bank with all the necessary documentation to become a signatory on the account. '' No one at Chase Bank responded all day on Friday. At COB Friday, XXXX contacted Chase Bank and spoke with " XXXX '' who said that the matter was escalated to XXXX, and he would likely call on Monday. 

When XXXX did not call the morning of XX/XX/2019, XXXX called him directly and left several messages. When XXXX finally connected with XXXX later that afternoon, XXXX informed XXXX that it had not performed any investigation, but would be in touch. 

On XX/XX/2019, XXXX called XXXX to state that the investigation was still ongoing, but that XXXX 's accounts were now frozen. XXXX reminded Chase Bank that XXXX was the victim as BUT FOR the Chase Bank employee 's failure to abide by internal banking policies and procedures, XXXX would still have its business funds and would not be impeded from performing its business. Although Mr. XXXX MAY HAVE provided necessary documentation, NONE of Mr. XXXX 's documentation or stories were verified by anyone at XXXX or a signatory on the account. 

On XX/XX/2019, Chase Bank responded to XXXX that " Mr. XXXX provided all the necessary documentation to become a signatory on the account '' even though he was never a signatory on the account and never a manager or controller of the company at any time. XXXX XXXX was a stranger to the XXXX business account, yet Chase Bank added him as a signatory and assisted him with fraudulently withdrawing all {$32000.00} in its business account. 

XXXX is stunned that Chase Bank would take this position when it is absolutely implicated in this fraud, has insurance to cover it's role in perpetrating this fraud, denies any liability in the act, and has significantly impeded XXXX 's ability to do business by not reinstating those funds. 

Today, XXXX filed a complaint with the local law enforcement and the FBI. XXXX maintains Chase 's failure to adhere to its internal banking policies and procedures to prevent this fraud.