Consumer complaint received 2024-03-11
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: JPMORGAN CHASE & CO. (TX)

On XX/XX/XXXX, I was contacted by an alleged salesman from XXXX XXXX XXXX allegedly located at XXXX XXXX XXXX, XXXX, CT XXXX that the XXXX XXXX XXXX XXXX  I had inquired about through their XXXX XXXX XXXX  was still available and that I could have the vehicle shipped to my home address for the sum of {$800.00} since it would be going on a car-hauler that would be bring many vehicles to the west part of the country. I attempted to get financing for the vehicle but because it was over XXXX XXXX XXXX, the financial institutions, both XXXX XXXX XXXX XXXX and JP Morgan Chase declined to finance the vehicle. A XXXX XXXX XXXX XXXX employee suggested I put {$28000.00} in a saving account at XXXX XXXX XXXX XXXX then take out a pledge loan for the amount needed to purchase the XXXX XXXX XXXX XXXX  I was wanting to buy. I withdrew {$28000.00} from my JP Morgan Chase checking account and deposited the amount into my XXXX XXXX XXXX XXXX saving account. After that, I then applied for the pledge loan in the amount of {$25000.00} which I was told was needed to be electronically transferred to the dealership 's JP Morgan Chase bank account included in the wiring instructions sent by the salesman from XXXX XXXX XXXX. The salesman provided the following instructions : Routing No. XXXX ; Account Number : XXXX ; Account Name : XXXX XXXX XXXX ; Bank Name : CHASE BANK ; Bank Address : XXXX XXXX XXXX, XXXX XXXX, CT XXXX ; Address : XXXX XXXX XXXX, XXXX, CT XXXX. I sat down with a XXXX XXXX XXXX XXXX employee and submitted the wiring instructions to her to send the electronic transfer of funds to the bank account listed in the wiring instructions. I asked the employee if there was some sort of protection in sending these funds from XXXX XXXX XXXX XXXX to a JP Morgan Chase bank account since it was not being sent to a person outside of the banking structure as I did not know the dealership nor the dealership salesman that provided me the information. I was told that the JP Morgan Chase bank officials had verified the information of the dealership and that I was okay in doing this. I did not sign any document giving my written consent to send the electronic transfer if these funds. On XX/XX/XXXX, at XXXX XXXX  EST, the electronic transfer of funds in the amount of {$25000.00} was sent to XXXX : XXXX XXXX XXXX at XXXX XXXX  : JP Morgan Chase Bank, NA with Confirmation Number : XXXX. 
The following day I contacted the salesman at XXXX XXXX XXXX via telephone at ( XXXX ) XXXX, and spoke to the salesman who told me the vehicle was being loaded onto a trailer for transport. He sent a photo of the alleged vehicle being loaded on the trailer. 
The next day I inquired about the whereabouts of the vehicle in transit and I was told it was in XXXX, KY at the time and should arrive by the following Saturday. Vehicle never arrived. I sent various secured messages to JP Morgan Chase Bank here in XXXX XXXX, Texas, after attempting to get information from the JP Morgan Chase rep in XXXX, CT regarding the alleged dealership XXXX XXXX XXXX that was a member of that financial institution. I was told no information regarding that member could be released due to privacy issues. I then asked if they could at least verify that member has been doing business at that bank for a number of months and they refused to disclose any information related to that member. After submitting the secured messages to JP Morgan Chase Bank here in XXXX XXXX, Texas, and receiving no response, I immediately went there and spoke to the bank manager who, once again, refused to disclose any information related to the dealership member in question. I was told to go to XXXX XXXX XXXX XXXX to get them to send an " alert '' to stop or attempt to recover any funds from the electronic transfer. I specifically told the bank manager at JP Morgan Chase that her deliberate indifference and gross negligence in allowing this dealership to carry out fraud and theft using JP Morgan Chase Bank as a means to do so would be raised in any complaint should the funds transferred electronically be lost due to her actions or refusal to act. I went to XXXX XXXX XXXX XXXX and spoke to an employee there telling her I had come from JP Morgan Chase Bank upon the bank manager 's request that I have XXXX XXXX XXXX XXXX submit an " alert '' to stop or attempt to recover any funds electronically sent to XXXX XXXX XXXX in XXXX, CT. 
I was told an " alert '' had been sent to JP Morgan Chase Bank and that an attempt to stop the transfer of funds or to recover the funds would be carried out. I was also told that an investigation would be conducted by a XXXX XXXX XXXX XXXX employee. I told the XXXX XXXX XXXX XXXX employee that I would come and check on the status of the investigation. As of this date no XXXX XXXX XXXX XXXX  has arrived at my home and calls to contact the dealership or salesman have gone unanswered Today, XX/XX/XXXX, I went to XXXX XXXX XXXX XXXX to speak to an employee regarding the status of the investigation and they told me the person investigating was in a meeting and would have to get back to me later. I left the facility and came home to begin this complaint.