Clients Sue Chase Over $1M in Missing CD Funds

JPMorgan sign in New York City

A mother and son have sued JPMorgan Chase Bank, contending they never received over $1.1 million in funds from certificates of deposit that they say the bank mailed without their knowledge.

In a complaint filed last week in California Superior Court, Rui Wang and Hengchen Qu, who live in China, accuse Chase of unjust enrichment and breach of contract and seek over $1.18 million in damages.

The pair opened three “automatically renewable” nine-month CDs totaling $1.16 million in 2019 at a Chase branch in Arcadia, California, according to the complaint. 

After opening the accounts, they returned to China; when they came back to the U.S., the plaintiffs went to the branch and asked about the CDs’ status, the lawsuit says.

“The staff stated that the CD accounts had been closed and three checks, each representing the fund therein, had been mailed to the address provided by plaintiffs, which were not received by, or even known to, plaintiffs,” the complaint says.

The accounts totaled nearly $1.19 million by then, according to the suit.

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