TikTok Check Fraudsters Indicted by JPMorgan Chase

‘Fraud is a crime’

While some alleged perpetrators seemingly felt they were merely taking advantage of a glitch in the system, JPMorgan unsurprisingly sees things differently.

“Fraud is a crime that affects everyone and undermines confidence in the banking system.” – Drew Pusateri, JPMorgan Chase

The four lawsuits were filed in federal courts in Houston, Los Angeles and Miami. Reuters reports thisnaming two individuals and two companies as suspects.

A total of $661,000 in damages is being sought on the grounds that the accused parties breached their deposit agreements and that the checks should be considered forged or counterfeit.

The largest amount of money JPMorgan says was illegally withheld was in Houston, where the bank says the alleged fraudster is owed $290,939.47. He withdrew the money over two days after a masked person deposited a check for $335,000.