JPMorgan Chase sues customers over 'infinite money glitch,' targeting amounts under $75,000

From CNBC: 2025-04-16 08:07:00

JPMorgan Chase has begun suing customers accused of stealing funds in last year’s “infinite money glitch,” targeting amounts below $75,000 in state courts. The glitch allowed customers to withdraw the entire value of a fraudulent check before it bounced, leading to lawsuits in Georgia, Florida, New York, and Texas.

The bank is suing customers who made cash withdrawals after depositing fraudulent checks, seeking repayment for the funds withdrawn. JPMorgan has sent demand letters to over 1,000 customers since October, some of whom returned the money voluntarily. The bank is also cooperating with law enforcement on potential criminal cases related to the glitch.

JPMorgan is pushing back on bankruptcy filings from alleged fraudsters involved in the “infinite money” scam. The bank has filed motions in bankruptcy court to object to attempts by customers to discharge debts accumulated through fraudulent check deposits. JPMorgan states there are legitimate reasons for bankruptcy protection, but fraudulently acquired debts are not one of them.

Read more: JPMorgan Chase infinite money glitch: Bank sues more customers