JPMorgan Chase began suing customers it accuses of stealing funds from the bank during last year’s infinite money glitch. The bank is now targeting customers who allegedly stole amounts below $75,000, filing complaints in state courts instead of federal venues.
The glitch allowed customers to withdraw the entire value of a fraudulent check before it bounced, and JPMorgan Chase has sent letters to over 1,000 customers demanding they repay funds since October. The bank has also filed lawsuits in state venues in Miami, New York, Texas, and Georgia, targeting those who allegedly stole large amounts.
According to a person with knowledge of the company’s deliberations, the bank chose to litigate the largest amounts with the clearest pattern of theft. The episode highlights JPMorgan Chase’s efforts to claw back funds owed to it and deter future crimes.
The lawsuits are separate from potential criminal cases that law enforcement may be pursuing. In a statement, a spokesman for the bank said they will cooperate with law enforcement but emphasized that getting rid of debts accumulated through fraud isn’t an option.
JPMorgan Chase is also considering pushing back against alleged “infinite money” fraudsters who filed bankruptcy to discharge their debts. The bank asked a judge in Michigan for more time to object to one customer’s attempt to discharge his or her debts, citing “genuine and important reasons people use bankruptcy protections.”
Source: https://www.cnbc.com/2025/04/16/jpmorgan-chase-infinite-money-glitch-bank-lawsuits.html