JP Morgan a popular banking investment company has reportedly been suing customers for stealing thousands of dollars from their ATMs. A technical glitch that allowed customers to withdraw funds before bouncing a check has cost the company significant financial losses. The bank has filed suits in three federal courts against customers who withdrew the largest amounts of money. This string of occurrences came from a Tik Tok trend endorsing the so called “Infinite Money Glitch”. A case involving a man from Houston involves him owing $290,939.47 after an accomplice deposited a counterfeit $335,000 check at an atm. The man was seen on surveillance footage wearing a mask and depositing the counterfeit check. After collecting the majority of the illegitimately acquired money he fled the scene. JP Morgan is the largest U.S. bank by assets and is investigating the scope of their losses. They have not officially made statements about any losses incurred. Despite the reduction in use of paper checks they are still a major force of fraud causing $26.6 billion dollars in global losses last year. The others of the three suits were reported to be filed in Miami and California. They ranged from $80,000 to $141,000. These lawsuits have been speculated to usher in a new age of legislation against financial fraud and debt repayment.
JP Morgan is suing customers
So called “Infinite money glitch” has cost JP Morgan millions
Article Published: October 31, 2024
Article Updated: October 31, 2024
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