Consumer complaint received 2017-06-07 00:00:00
Product: Credit card or prepaid card — General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement — Credit card company isn't resolving a dispute about a purchase on your statement
Company: JPMORGAN CHASE & CO.
State: NY

Complaint narrative:
After depositing {$150000.00} in XXXX - XX/XX/XXXX2016, ( some of which we managed to have returned to us through our own efforts ), into an overseas trading platform that turned out to be a scam, we disputed the charges with Chase, as we never received what we had paid for. Chase strung us along and closed the dispute twice after which the Executive Office reviewed it, admitted we were correct and told us it was too late. We opened a complaint with the CFPB ( Complaint # XXXX ) and Chase responded, once again ignoring the glaring facts and blatantly disregarding valuable information to our case. Below is our complaint against Chase.
1 ) Chase sent us copies of all of the paperwork that they based their decision off of. It was dishonest of Chase to neglect to include the contract which states that our final deposit of {$100000.00} would not be included in the original bonus agreement and the funds would be liquid and available for withdrawal at any time. This is obstruction of justice on Chases part. Additionally, XXXX did not live up to any of the other terms that are stated in the legally binding contract. Chase was told on the phone by a representative of XXXX that the funds would be refunded. The funds were never refunded, and Chase never followed up on it.
2 ) If the reason Chase neglected to include this contract in their files is because Chase does not wish to recognize XXXX emailed contract as legally binding, then Chase needs to acknowledge that they are giving credence to a lying, scheming, dishonest company who made a worthless agreement with us in order to defraud us.
3 ) Chase claims we agreed to a contract. This contract includes that we would be able to trade currencies on their portals. Their portal is not a portal. Its not in real time. It is fake. They did not live up to their side of the terms at all. Therefore, the contract is not legally binding because of fraud in the inducement. The reason why this is fraud in the inducement is because XXXX told us we would be making trades and the understanding was that this would be on a real-time portal on the actual market. In fact, its their own portal which they control in order to cause you to trade away your money. XXXX intent is to mislead unsuspecting consumers. We would have never entered into a contract with this merchant had we known that they were a dishonest and fraudulent company who was selling a fake portal. As soon as we realized, we contacted Chase who was very unhelpful and uninformative regarding how to get our money back.
4 ) Chase asked us to submit proof from a financial professional that the portal was fake and that XXXX XXXX obligations were not met and therefore the services were not rendered. We provided the necessary information ( proving how XXXX was manipulating the numbers and the portal was not in real time ) and Chase said that the information was sufficient but it was too late. This is not in accordance with what they had told us earlier.
5 ) XXXX did not abide by their own contract and the representatives at Chase told us straight out that theyre a dishonest company and many others have had similar problems. If this is the case, then this company should not be allowed credit card privileges and Chase should not have allowed our charges to go through in the first place.
6 ) It is laughable that Chase claims the contract is legally binding, when it was no problem for XXXX XXXX XXXX who immediately recognized the credence of our complaints to withdraw the money we charged on their card directly from XXXX.
7 ) Chase had clear intent to misguide us through the disputes process until it was too late so they would not lose money.
8 ) Chase is guilty of conspiracy and accessory to theft for validating and upholding fraudulent contracts and a fake business. Chase took advantage of us because they knew we would be powerless against their large corporation.

Company response to consumer: Closed with explanation