January 26, 2012
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.
This article was posted: Thursday, January 26, 2012 at 5:29 am