The complaint has been investigated and
resolved to the customer's satisfaction
Chase Bankforgery, fraud and releasing of funds

An account was fradulently set up by Chase bank in Oklahoma City at the Quail Creek branch which allowed an individual to forge my daughters signature on a stolen 401K distribution check and deposited it into a linked checking account. The individual that stole the check was then allowed to transfer all the money out of the secondary linked account into their primary account. After 6 months of fighting with Chase about their policies, the forgery, fraud, stolen check and stolen funds it was determined by Chase that the funds should be redistributed back to the secondary account (the fradulent account). Now Chase will not release those funds or send the check back to the bank that originally issued it (United Western) so that United Western can reissue another check to my daughter and Chase has put an indefinite hold on the funds. The original check which was a 401k distribution check due to my daughter's mother's death was fradulently cashed. Since then a 1099 was diseminated and now my daughter is liable for taxes on funds that were distributed in 2009, yet she has not had the benefit of those funds. I have sent copies of police reports, affidavits of forgerys, custody paperwork, birth certificate, death certificate, copies of their policy etc to them to prove a crime happened and that they (Chase)were involved. I was successful in proving my claim. That is clear due to the money being put back into the secondary account, but now Chase refuses to release the money or send back the check so a new one can be reissued.

This company really doesn't have a clue and I have been fighting with them for 6 months. I have had to go to Federal reserve consumer help and Comptroller of the Currency Administrator of National Banks for help. My next stop is an attorney. Do yourself a favor ...keep your money and yourself far away from this company!



  • In
    Ingrid21 Aug 08, 2010

    I am living a similar situation with Chase, oddly enough mine too was a 401k check. It's been 3 months for me, your news proves my gut feeling that this will take much longer than the "90" days Chase keeps promising.

    0 Votes
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