Consumer complaint received 2025-05-14 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: JPMORGAN CHASE & CO.
State: CA

Complaint narrative:
XXXX XXXX XXXX AKA XXXX XXXX XXXX. XXXX XXXX XXXX, XXXX, California. XXXX. ( XXXX ) XXXX Cell Email : XXXX Dear CFPB, I, XXXX XXXX XXXX, now a XXXX XXXX XXXX single XXXX American male, fell victim to a so called online " pig butchering '' scam in the Fall of XXXX. The derogatory moniker pig butchering alludes to the practice of fattening a pig before slaughtering it, and refers to the lengths taken by its perpetrators to gain the trust and confidence of their victims. 

Without question, the evil doers are the unknown criminals who orchestrated the scheme to set up a fake investment platform/website to steal my money. However, the crime required the assistance of a bank -- - in this case, assistance and aid provided by agents and representatives of JPMORGAN Chase XXXX, XXXX. ( Chase ), including XXXX, California downtown main branch, corner of XXXX and XXXX XXXX XXXX, and the XXXX XXXX XXXX branch in XXXX, California branch employees. 

Chase has known for some time about these schemes and how its agents assist in perpetrating them, and it has been named in an increasing number of lawsuits involving elder Chase customers being defrauded by authorized transfer scams dependent on the banks active involvement and cooperation. 

Between the Fall of XXXX to the end of XX/XX/XXXX, XXXX, California XXXX employees assisted in defrauding me out of approximately {$200000.00} leaving me with nothing. This appears to be a blatant violation of the Elder Abuse and Dependent Adult Civil Protection Act. 

" Pig butchering '' scammers often target their victims through online communications platforms. They frequently initiate contact with their victims by saying they came across their contact info and then start a conversation. After gaining the trust of their victims sometimes over a period of months scammers eventually introduce the idea of investing in business projects where the victims are directed to spoofed websites that are built to look like legitimate companies. This is what happened to me. 

The scammers then require the assistance of financial institutions, like Chase, and bank branch employees, to authorize large transactions, which the victim believes to be an investment. Once financial institutions like Chase authorize a transaction that the victim. like me, believes to be an initial investment, the scammers purport to show increasing financial opportunity. 

Pig butchering scammers assisted by financial institutions like Chase, that continue to assist the scammers through repeated suspicious transactions do not stop until they have deprived victims like me of any remaining savings. 

Elder financial abuse, including pig butchering schemes that often target elders, has become as ubiquitous as it is pernicious. Older adults are targets for financial exploitation due to their income and accumulated life-long savings and thus scams targeting their savings have proliferated over the last decade. 


Often called the " crime of the 21st Century, '' elder financial abuse is epidemic, with estimates of the annual economic losses as high as {$37.00} billion per year. Those monetary loss estimates do not include the often severe mental and/or physical impacts of financial abuse upon the elderly victims health and well-being. One of the documented impacts of elder abuse is earlier morbidity, with victims being three times more likely to die early than similarly situated non-victims.

Chase representatives across two branches along with the banks inadequate policies, procedures and controls failed to protect me, a loyal and vulnerable long time customer, when they transferred approximately a quarter of a million dollars from my Chase account in question ( My Chase account ) on several occasions, without performing a sufficient risk assessment. 


At no time throughout this scheme to defraud did Chase employees ask any pertinent questions, flag these highly irregular and suspicious transactions for further review, or complete a sufficient risk assessment regarding the transfers, despite the potentially fraudulent nature of these LARGE transfers and the fact that the money was being simultaneously pulled regularly from my account. Nor, did a Chase Bank XXXX ever offer or require approval for these frequent HIGH VALUE transfers. 

Prior to the Fall of XXXX, I had never transferred such regular and large sums of money with Chase. These fraud scam amounts dwarfed the average monthly balance in my accounts in prior years. 

The sudden, irregular activity in my account strongly suggested the financial exploitation of an elder that Chases own website states is on the rise. 

Nonetheless, not one of the numerous agents of these two Chase Bank branches who personally completed numerous fraudulent transactions and observed the sudden onslaught of irregular activity, ever reported that financial elder abuse may be occurring ; delayed ( or even questioned ) the unusually large transactions or prevented the fraudulent activity from happening. 

Further, the Interagency Guidelines specifically identify the well-known hallmarks of financial abuse of older adults, including, but not limited to : Erratic or unusual banking transactions, or changes in banking patterns, such as : Uncharacteristic attempts to wire large sums of money. 

A single such banking transaction by an elderly customer signifies financial abuse of an elder, as defined by California law, that is specifically identifiable and preventable by Financial Institutions like Chase Bank. 

A decade ago, the XXXX XXXX XXXX XXXX XXXX Federal Reserve XXXX and Consumer Financial Protection Bureau joined with six other federal agencies in issuing an Interagency Guidance on Privacy Laws and Reporting Financial Abuse of Older Adults Interagency Guidance to financial institutions such as Defendant Chase. 

The XXXX XXXX underscored what by then was a well-known problem to Defendants and the rest of the banking community : Recent studies suggest that financial exploitation is the most common form of elder abuse... Older adults can become targets of financial exploitation by family members, caregivers, scam artists, financial advisers, home repair contractors, fiduciaries ( such as agents under power of attorney and guardians ), and others. Older adults are attractive targets because they XXXX have significant assets or equity in their homes. They XXXX be especially vulnerable due to isolation, cognitive decline, physical XXXX, health problems, and/or the recent loss of a partner, family member, or friend. Financial institutions can play a key role in preventing and detecting elder financial exploitation. A financial institutions familiarity with older adults it encounters XXXX enable it to spot irregular transactions, account activity, or behavior. Prompt reporting of suspected financial exploitation to adult protective services, law enforcement, and/or long term ombudsmen can trigger appropriate intervention, prevention of financial losses, and other remedies. 
As between a disadvantaged elderly customer and the financial institutions entrusted to keep the costumers savings safe, only the latter is realistically positioned to prevent scams which are so obviously preying upon elderly clientele like me. 

In violating their own policies, procedures and controls, Chase knew or should have known that their actions were likely to be harmful to me. The financial elder abuse that took place would not have occurred were it not for Chase Banks actions. Because of these actions, I have suffered irreparable financial loss and significant emotional distress. 

Its ironic and patently unfair that while Chase Bank XXXX offers fraud protection even for authorized fraud payments/transactions, Chase Bank XXXX has not signed on board to protect customers like me in the United States XXXX 

https : //www.chase.co.uk/gb/en/support/scammed-faq/ * My Global XXXX XXXX Chase Bank XXXX account ends in XXXX Here some transaction dates and amounts involved> {$20000.00} XX/XX/XXXX {$30000.00} XX/XX/XXXX {$34000.00} XX/XX/XXXX {$3700.00} XX/XX/XXXX {$1800.00} XX/XX/XXXX {$13000.00} XX/XX/XXXX {$21000.00} XX/XX/XXXX {$10000.00} XX/XX/XXXX {$15000.00} XX/XX/XXXX {$11000.00} XX/XX/XXXX Here, BELOW, is an outline of the scam I can present you with all of the Chase Bank XXXX XXXX transaction tickets or receipts upon further request. 

I am an American citizen with a XXXX XXXX known as XXXX XXXX XXXX. 

In fall of XXXX, in an unsolicited email manner, I was recruited to work for a XXXX pharmaceutical company on what was touted as a multi XXXX dollar annual contract supplying the company with product from a farm in XXXX and XXXX. 

A supposed staff member of this British pharmaceutical company reached out to via email offering to profit share on a much needed herbal extract produced by a Turkish farm that we could renew a supply relationship with for XXXX years. I had never met the staffer in real life https : XXXX * This Spoofed and data breached website was finally taken down by CEO/Owner, XXXX XXXX, in late XX/XX/XXXX, after I investigated via debt XXXX in the XXXX.... 

As this began, I was urged to sign an XXXX by a staff member named XXXX XXXX, and from there our business relationship began. I eventually became an " official '' supplier to the XXXX XXXX company, and wound up spending tens of thousands of dollars on barrels of product the XXXX XXXX " Procurement '' and " Finance Dept '' stated they would pay me for, but they later refused to due to my not having a XXXX XXXX XXXX XXXX XXXX license which was never mentioned initially. After my initiating contact with the Turkish farmer, as instructed, the Turkish farm owner referred me to his XXXX licensing broker, who, after I paid nearly {$80.00}, generated a license that proved to be fake, resulting in a current XXXX XXXX Police XXXX. I have never personally met the Turkish farm owner nor the XXXX broker in real life. http : XXXX Since the fall of XXXX to nearly the present, I have used my Chase Bank XXXX account, as instructed by XXXX XXXX XXXX XXXX make HUGE Chase Bank XXXX XXXX business fund transfers to numerous Chase Bank XXXX XXXX set up by the Turkish farmer and XXXX XXXX XXXX the United States XXXX XXXX herbal product barrels, licensing et al. XXXX XXXX and the Turkish farmer also purportedly shared expenses, but I now find their wire transfers to XXXX Bank in the XXXX and The XXXX Bank XXXX XXXX were all fake. 

After my spending {$200000.00} plus ( approx ) on samples and licensing without getting any commission, I now find that it is an elaborate scam by rogue employees or rogue company reps. I have preserved a full and complete XXXX XXXX of documentation, with the broached company CEO issuing me a signed contract, and his staff urging me throughout the months to incur further and further debt. 

The XXXX Phamaceuticals XXXX, XXXX XXXX, has just very recently conveniently removed his long standing XXXX XXXX website from the internet, late XX/XX/XXXX, after all of my data has been breached, and claims he didn't know of the activities of his rogue staffers, but he surely has vicarious liability. He is also the CEO of another major XXXX XXXX company with holdings internationally and in the United States. 

* Because of the rogue activities of this XXXX XXXX XXXX website, which XXXX XXXX XXXX has left unattended and exposed to data breaches and rogue players for years, I have gone into massive debt, ruined my XXXX credit in my frantic attempt to finance this fraudulent scheme, and as a result, I am left having only pain and suffering, home mortgage loan debt and looming XXXX bankruptcy. 



Turkish farm owner... 

XXXX XXXX XXXX XXXX Herbs Farms XXXX www.ladangsherbsfarms.com XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX NO XX/XX/XXXX XXXX, XXXX, XXXX. 


Turkish farm owner partner in XXXX... 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Principal XXXX So XXXX XXXX XXXX, XXXX XXXX Scam licensing agent... 
XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, XXXX XXXX XXXX, XXXX XXXX XXXX XXXX From : XXXX To : mw_king Fri, XX/XX/XXXX at XXXX PM Re-send -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Greetings XXXX XXXX, Below are the Bank account details for wire. 

XXXX. For {$40000.00} from the XXXX, endeavour to make use of cash deposit for quick transaction and fast cofirmation. 

BANK NAME : CHASE BANK ACCOUNT NAME : XXXX XXXX XXXX ACCOUNT NUMBER : XXXX ROUTING NUMBER : XXXX BENEFICIARY ADDRESS : XXXX XXXX XXXX XXXX XXXX, CA XXXX BANK ADDRESS : XXXX XXXX XXXX XXXX, XXXX XXXX, CA, XXXX XXXX XXXX : XXXX PURPOSE : BUSINESS XXXX. For {$60000.00} from XXXX XXXX, in XXXX and {$100000.00} from your XXXX partner, use below HOLDING BANK : THE XXXX BANK XXXX XXXX XXXX BENEFICIARY NAME : XXXX XXXX XXXX ACCOUNT NUMBER : XXXX BANK ADDRESS : XXXX XXXX, XXXX XXXX XXXX SORT CODE : XXXX Do send wire copies accordingly for confirmation. 

Kind Regards, XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX 

Kind regards, XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX. 


XXXX XXXX XXXX XXXX of Procurement and XXXX Department www.osgenpharma.uk Unit XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX XXXX : XXXX Fax : XXXX

Company response to consumer: Closed with explanation