JPMorgan Chase is the subject of a consumer fraud lawsuit that accuses the banking giant of using deceptive tactics to fool bankruptcy judges into ruling in its favor in numerous bankruptcy cases.
According to Courthouse News, Ernest Michael Bakenie brought the consumer fraud lawsuit against JPMorgan Chase claiming that the bank routinely fabricated documents, sometime using methods as simple as Photoshop, to "create the illusion" of standing in tens of thousands of bankruptcy cases involving home mortagages. The suit also claims the practice allowed the bank to increase its profits in part by imposing attorney fees upon borrowers.
These fabricated documents, the lawsuit continues, were part of a "pattern and practice of playing 'hide-and-seek' with debtors, judges and other bankruptcy players" that was done by JPMorgan Chase to benefit itself financially.
Bakenie is seeking class action certification for his lawsuit, as well as disgorgement, compensatory, statutory and punitive damages for JPMorgan Chase's “misrepresentation and deceptive business practices."
If you or a loved one have been victimized by consumer fraud, contact Sokolove Law today to learn more about potentially pursuing a lawsuit.