Chase “Free Money” Trick Leads to Lawsuits
JPMorgan Chase has started suing some customers who improperly withdrew funds by taking advantage of a temporary technical glitch that went viral on TikTok back in August.
The “infinite money trick” which is actually just check fraud, let customers deposit checks in ATMs and withdraw funds immediately before the checks could clear and eventually bounce. And some people went big.
The bank was reportedly investigating thousands of possible check fraud incidents as of last month. And Chase has now filed four lawsuits in federal courts in Los Angeles, Houston and Miami. It is accusing two individuals and two businesses of illegally obtaining more than $600,000 from checks they deposited, which were deemed counterfeit or forged.
One of the lawsuits filed Monday in the Southern District of Texas, alleges that in August, a “masked man” deposited a counterfeit check for $335,000 into a defendant’s bank account at an ATM. He then withdrew $290,939.47 from those funds, before the check was returned as counterfeit.
The three other lawsuits filed Monday are in courts including Miami and the Central District of California, and involve sums ranging from about $80,000 to $141,000.
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