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Chase Bankruptcy Fraud Class Action Lawsuit Print E-mail
11 Votes
Friday, 20 January 2012 00:00
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Chase Bankruptcy Fraud Class Action Lawsuit

By Matt O'Donnell

 

ChaseA 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).

The Chase bankruptcy fraud class action lawsuit is brought on behalf of all California debtors, as defined under the U.S. Bankruptcy code, whose cases Chase appeared and asserted standing as a creditor in any bankruptcy matter based on false, inaccurate, misleading or deceptive documents or written representations and where another entity other than Chase is the actual creditor of a MLN.

It is seeking damages, restitution, disgorgement of profits and injunctive relief.

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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Updated January 20th, 2012

 

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5 Comments

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  1. Samizdat makes this comment

    Thursday, 26 January 2012

    I believe this lawsuit will not be allowed to go to a conclusion. The logical counter will be for the federal government to make an agreement with Chase that pre-empts this lawsuit, allowing Chase to escape with a pat on the wrist and no justice for the victims of the swindle.

  2. occupythis makes this comment

    Tuesday, 31 January 2012

    That will cost them more than a bailout lol

  3. Laser Haas makes this comment

    Thursday, 16 February 2012

    The only way to properly handle this scheme and the domino criminal house of cards that must inevitably fall - is for the Treasury to simply print $3 to $7 Trillion extra dollars and Pay Off all current foreclosures. This will devalue the dollar but spread the burden to the one place it is already costing a trillion dollars already; the citizens of America.... Barring that obvious solutions, I do concur with both the commentors above. It will cost more than the bailout (remember we are supposed to have gotten that money back already) and it will never reach conclusion - the proof is overwhelming and irrefutable against JP Morgan Chase.

  4. Pat makes this comment

    Sunday, 04 March 2012

    I know for a while that Chase engages in criminal actions and I hope they go belly up soon. This is not a bank but a criminal organization. I have proof as well.

  5. Laura makes this comment

    Monday, 14 May 2012

    Chase is also guilty of ignoring chapter 7 discharges and even after two years keeps the house continually on credit reports, etc as a possible foreclosure pending. When called they offer to "allow us" to buy the house at a deeply discounted price, or sell it and split the money, or the ultimate suggestion was they told us to rent the house out and they'd give us part of the rent each month. All this while they continue to further attack any possibility of us rebuilding our credit! Why?

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