October 28, 2024 at 04:55PM
JPMorgan Chase is suing individuals linked to a viral ATM fraud scheme exploiting a check deposit glitch. Four federal lawsuits have been filed across Texas, Florida, and California, seeking recovery of stolen funds, which total significant amounts from multiple defendants. The bank aims to hold fraudsters accountable.
### Meeting Takeaways
1. **Lawsuits Filed**: JPMorgan Chase has initiated four lawsuits against individuals and companies involved in exploiting a “check fraud glitch” that allowed fraudulent withdrawals from ATMs.
2. **Fraudulent Activity**: Over the summer, a viral “infinite money glitch” on social media enabled customers to deposit counterfeit checks into their accounts and withdraw large sums before the checks bounced.
3. **Locations of Lawsuits**: The lawsuits have been filed in federal courts across Texas, Florida, and California.
4. **Key Cases**:
– **Timipah Ikemi (Texas)**: Allegedly owes $290,939.47 after an accomplice deposited a $335,000 check, with significant withdrawals made shortly after.
– **Micah Reed (California)**: Specific amounts not disclosed.
– **Florida Cases**: Involve In and Out Appliances LLC and Riskboss Musiq LLC, with disputed amounts ranging between $80,000 and $141,000.
5. **Bank’s Position**: Chase emphasizes the importance of combating fraud to maintain trust in the banking system and is collaborating with law enforcement to address these offenses.
6. **Spokesperson Statement**: Drew Pusateri, a Chase spokesperson, highlighted the bank’s commitment to holding fraudsters accountable without disclosing specific figures regarding the total amount stolen or the number of fraudulent deposits.