Several accounts on TikTok and other platforms touted the scheme that instructed Chase account holders to write themselves a large check (often in the tens of thousands of dollars), deposit it using a mobile device and then rush to the ATM and withdraw the funds before the check was cleared.
Some videos allegedly showed individuals celebrating their sudden riches, and others showed the aftermath of people purportedly finding their accounts frozen with massive negative balances.
VISA REPORT HIGHLIGHTS EMERGING SCAMS TARGETING CONSUMERS AND TRAVELERS
Now, Chase is suing to get the funds returned.
(Tim Clayton/Corbis via Getty Images)
The other two cases were filed in the Southern District of Florida against separate businesses that allegedly took part in the scheme and owe Chase around $140,000 each.
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“Fraud is a crime that impacts everyone and undermines trust in the banking system,” Chase spokesperson Drew Pusateri told FOX Business in a statement. “We’re pursuing these cases and actively cooperating with law enforcement to make sure if someone is committing fraud against Chase and its customers, they’re held accountable.”
