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Will JPMorgan Chase file criminal charges against 10+ individuals for 'infinite money glitch' by March 2025?
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Public records of criminal charges filed by JPMorgan Chase
Story
JPMorgan Chase Sues Customers for $661,000 Over TikTok 'Infinite Money Glitch' Fraud
Oct 29, 2024, 12:00 PM
JPMorgan Chase, the largest U.S. bank, has initiated lawsuits against customers who allegedly exploited an ATM technical glitch known as the "infinite money glitch" to withdraw thousands of dollars. The glitch, which went viral on TikTok and other social media platforms, allowed individuals to access funds before deposited checks bounced. Lawsuits have been filed in federal courts in Los Angeles, Houston, and Miami, seeking to recover over $661,000 from four customers accused of check fraud. One case involves a Houston man who owes the bank $290,939.47 after an accomplice deposited a counterfeit $335,000 check. JPMorgan is investigating thousands of similar cases related to the glitch and is considering pursuing criminal charges for fraud. The bank seeks the return of the stolen funds with interest, overdraft fees, legal fees, and, in some instances, punitive damages.
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