July 1, 2024
Funds

US Government Seizes $5,254,133 in JPMorgan Chase Bank Accounts, Alleges Funds Stolen in Sophisticated Scheme

The US Government has seized $5.25 million in six bank accounts at JPMorgan Chase, alleging the funds are the proceeds of a sophisticated fraud scheme. A complaint filed by the US Justice Department says the funds were stolen from a workers union in Massachusetts that was tricked into wiring millions of dollars directly to scammers.

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Finance

$384,000,000 To Be Handed To 191,000 Victims of Banking Giant’s Illegal Practices: Consumer Financial Protection Bureau

A US banking regulator says $384 million will soon be handed to victims of an online bank’s illegal practices. The Consumer Financial Protection Bureau says 191,000 people will receive the windfall of cash, which will be given to former customers of Texas-based Think Finance. The agency filed a lawsuit against the lender in 2017, accusing

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