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JPMorgan Chase Bank

Posted: Jul 3, 2017 by    

customer abuse

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Contact information:
Seattle, Washington
United States
On November 13, 2016 our dad, Terry Lindquist, died. This was a huge loss to our family. Within the first month after his death, our mom experienced increased confusion and difficulty managing every day activities. Unpaid bills began to accumulate and I offered to help her sort out her finances.

The first thing I found while sorting through their mail was debt, which our mom hadn’t been aware of, including a Chase Bank line of credit and credit cards, which were paid off immediately. Our parents are of a generation that follows division of labor by gender. Our dad had handled the money, and our mom did everything else, so she hadn’t been sure what the status of their finances were, but she knew that they had saved conscientiously for retirement.

When the debt was discovered, I ran a credit check to ensure that nothing else was outstanding, like a lost gas card. We found significant, additional debt, and discovered that our dad had been the victim of an inheritance scam.

Recovered emails showed that he had been told that a long lost relative had left him $62 million dollars, which he needed to pay fees to recover. While looking for a checkbook, I found wads of wire transfer receipts from Chase Bank. A review of our dad’s personal checking account showed suspicious activity dating back to May 2011.

In April 2011, our dad had a total of $361 in non-check transactions out of his checking account. In May of that year, the total was $5, 630 in non-check transactions for the month. For June it was $17, 452. For November it was $164, 677. This continued for five years, until the month of his death. In total, more than $800, 000 was lost through this scam.

Our parents worked in public education, so our dad didn’t have access to large amounts of money. His bank statements after April 2011 reveal transactions in and out of his personal checking account to accommodate the wire transfers, including hundreds of thousands of dollars in checks he wrote to himself from our parents’ retirement savings account, and from their joint savings and checking accounts.

Other funds were obtained through loans, including Chase Bank lines of credit he opened independently of our mother. Without her knowledge or consent, he reactivated a paid off Chase Bank loan against their home for just under $90, 000. This money was wired overseas, and is now our mother’s responsibility.

Money was transferred across the globe, to Nigeria, Malaysia, China, and Ghana. Each wire transfer was made in person, with the help of Chase Bank staff. In fact, our dad kept the business cards of the Chase Bank staff he repeatedly visited, and when my mother and I went to close his account, we were told that the staff were very familiar with our dad, and had seen him several times every week. He had told our mom that he had errands to run every afternoon during the week.

Our dad was a 79 year old from rural Montana, who looked like an 89 year old. He could barely walk and couldn’t open one hand. He wore orthopedic shoes with ankle braces to help him stay upright, and his hearing and thinking were compromised. He met every definition of a vulnerable senior.

He spoke no languages other than English. The names and locations of the places to which the money was wired would have been completely foreign to him. In his coat and pants pockets, we found hand written and printed out instructions he had taken with him to the bank.

In addition to the money lost through the wire transfers were tens of thousands of dollars in Chase Bank fees, including wire transfer fees, late fees, overdraft fees, and accumulated interest.

Our mother is devastated. In addition to the loss of her companion of 60 years and much her retirement savings, she has been aggressively pursued by Chase Bank regarding the line of credit against her only asset – her home. She now lives in constant, financial fear.

I am certain that, if our parents had banked at a credit union, this activity would have been stopped. The transactions associated with this scam were easily identifiable, ridiculously large, regular and continuous for more than five years. Conscientious and ethical staff would have addressed the situation.

Chase Bank not only perpetuated the financial victimization of vulnerable customers, but also profited directly from it.
Complaint comments Comments (0) Complaint country United States Complaint category Banks

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