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The US government has seized $5,254,133 in JPMorgan Chase bank accounts and claims the funds were stolen in a complex scheme
The US government has seized $5.25 million in six JPMorgan Chase bank accounts, alleging the funds were the proceeds of a complex fraud scheme.
The complaint filed by the U.S. Department of Justice alleges that the funds were stolen from a labor union in Massachusetts that was duped into transferring millions of dollars directly to the scammers.
Last January, the unnamed union received an email that appeared to be from the union's investment manager, according to the Justice Department. The email address seemed to match: the correspondence asked the union to transfer $6.4 million to another bank account.
After the union complied with the fraudulent request, prosecutors say some of the money was diverted to cryptocurrency exchanges, $5.25 million was transferred to JPMorgan Chase accounts, and $61,612 was sent to a Texas Bank and Trust account that also was arrested.
The Justice Department says the scammers recruited people known as "money mules" who quickly transferred funds between different accounts to disguise their origins.
Prosecutors are now seeking the final forfeiture of all funds seized from US bank accounts.
“BEC scams pose a serious threat to businesses and individuals across the country, causing significant financial and emotional harm to victims through the use of trusted communication channels they rely on every day.
Today's civil asset forfeiture lawsuit shows that when victims report such misconduct to authorities, we can take steps to recover stolen funds. We hope today's actions help restore some level of stability and justice for those affected by fraud."
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