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JPMorgan Bankruptcy Fraud Class Action Lawsuit Makes Strong Allegations

Alleged fraud at JP Morgan.  Who could have guessed?



A federal class action lawsuit is making some strong allegations against JPMorgan Chase, claiming the  lender routinely fabricates documents to deceive bankruptcy judges into believing Chase is the beneficiary in bankruptcy cases, and goes so far as to Photoshop documents to “create the illusion” of standing “in tens of thousands of bankruptcy cases.”

According to the JPMorgan Chase bankruptcy fraud class action lawsuit, “Chase is engaged in the business practice of deceiving bankruptcy judges, Chapter 7 trustees, Chapter 11 trustees, Chapter 13 trustees, the Office of the United States Trustee, creditors, creditor attorneys, debtors in possession, debtors and debtors attorneys as to Chase’s status as a secured creditor in tens of thousands of bankruptcy cases filed nationwide.”

Among the numerous allegations in the Chase bankruptcy fraud class action lawsuit, Chase is alleged to have:

1. engaged in perjury, fraud and intentional misrepresentation by manufacturing a chain of title transfer evidence in order to falsely prove it stands in thousands of bankruptcy matters; and

2. used manufactured evidence to deceive the bankruptcy court and other bankruptcy players as to the identity of the true beneficiary or creditor of Class Members’ non-negotiable promissory notes (MLNs).

A copy of the Chase Bankruptcy Fraud Class Action Lawsuit can be read here.

The case is Ernest Michael Bakenie v. JPMorgan Chase Bank, N.A., Case No. SACV12-0060 JVS (MLGx), U.S. District Court, Central District of California.

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Reader Comments (6)

My step son and his wife in San Antonio were looking to buy their first home. They found a nice one (short sale) and the bank (Chase) approved them for the asking price. They made an offer and the bank said it would take a couple of weeks to finalize the deal. The Bank kept extending the date and 10 weeks later (they had to extend their rent twice with their current landlord to accommodate the bank dragging their ass). Yesterday they got a notice from the bank and sent us this e-mail.....

"Chase Bank, in spite of government guidelines saw fit to take a cash offer from real estate speculators over theirs."

I would like to bring up the fact that Mr. Dimon has been mentioned here at the Daily Bail on more than one occasion. I have been busy working on energy related matters with great success and now I am able to concentrate on other things. The gauntlet is off.
Feb 5, 2012 at 8:29 AM | Unregistered Commenterjohn
J.P. Morgan Banker Selected for FDIC



Mr. Norton served from 2007 to 2009 as deputy assistant secretary in the Treasury Department, where he was a key adviser to former Treasury Secretary Hank Paulson during the financial crisis.....


Taking JPMorgan Through the Wringer



It couldn’t get worse for JPMorgan Chase & Co., a global financial services firm that operates in over 100 countries.
The latest negative publicity concerns missing funds from the now defunct MF Global Holdings Ltd. The final missing funds, which total close to $660 million, are most likely held in a custodial account at JPMorgan.
Feb 5, 2012 at 10:45 PM | Unregistered Commenterjohn
Colorado Better Banking Amendment

The only way to solve this corpo-political scheme is to take it back to the states. This is nothing more than run of the mill corruption and it should be stopped.
Colorado Better Banking Amendment

The only way to solve this corpo-political scheme is to take it back to the states. This is nothing more than run of the mill corruption and it should be stopped.
May 12, 2012 at 6:16 AM | Registered CommenterJohn
May 26, 2012 at 7:32 PM | Registered CommenterJohn

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