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JPMorgan Chase Accused of Fraud in Bankruptcy Filings

Newport Beach, CA: A consumer fraud class action filed against JPMorgan Chase alleges the bank routinely fabricated documents to deceive bankruptcy judges.

The lawsuit, filed by Ernest Michael Bakenie, states "Through the use of fabricated assignments, endorsements and affidavits that purport to transfer deeds of trust, notes and the rights to all monies due under the terms of tens of thousands of non-negotiable promissory notes (the 'MLNs'); Chase has demonstrated a pattern and practice of playing 'hide-and-seek' with debtors, judges and other bankruptcy players."

Bakenie further claims that Chase's "pattern and practice of playing 'hide-and-seek' with debtors, judges and other bankruptcy players" resulted in the bank securing motions for relief of stay and proofs of claim in 95 percent of its cases. According to the lawsuit, an extensive network of attorneys working for Chase filed more than 7,000 motions for relief from automatic stay in bankruptcy cases in the Central District of California, "wherein they falsely claim to be the party entitled to monies due under the terms of MLNs." The lawsuit also claims that Chase rewards attorneys based on how quickly they can secure the stays, and uses fabricated documents to establish chain of title on loans.

Essentially, the lawsuit claims, "Rather than incur the cost of 'proving up' its own standing or the standing of its principal Mortgage Backed Security Trust, Chase systemically misrepresents Chase or a designated MBST to be a creditor in tens of thousands of bankruptcy cases by utilizing manufactured documents. "

The lawsuit also claims "That said practice allows Chase to dump defaulted loans that were never properly securitized by Washington Mutual (WAMU) and other originators acquired by Chase into private mortgage backed security trusts by creating the illusion of a valid transfer. Said practice shifts the liability of defaulted loans not properly securitized by WAMU, from Chase to private mortgage backed security trusts. The practice allows Chase to effectively mitigate the millions of dollars in liability of the WAMU acquisition, where WAMU failed to transfer MLNs of its portfolio before its demise. Said practice shifts losses from WAMU to MBST bond investors."

Bakenie seeks class certification, compensatory, statutory and punitive damages for unfair and deceptive trade, disgorgement and "an order vacating all bankruptcy orders, claims and awards granted based on Chase's misrepresentation and deceptive business practices".

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Published on Jan-17-12


Posted by

JP Morgan Chase has been holding on to our retirement account money and promising to transfer it for over a month. What can be done when they keep our retirement from us.

Posted by

JP MORGAN took my loan from another bank & I was told after the fact. I was late on 2 payments and they said they were foreclosing on it. I never seen it be in foreclosure and several people wanted to buy it. Those people called JP MORGAN & tried to buy it, but JP Morgan told everyone that it was mine. I would call JP Morgan to see if I could sale it & they told me NO IT'S NOT YOUR'S. It sat there empty for a few years & never went into foreclosure , but people kept asking me if my husband had it. I told everyone no, but I was very wrong. I later found out that yes my husband and his mistress had it, & they were major holder's of JP Morgan, & it showed my name was taken off deed illegally by them. It was also a realtor involved Sharon Rice & apparently they take homes and flip them between themselves using deceased names. That's what I FOUND OUT!!! So the fake foreclosure they put on my credit & ruint my credit, but didn't put it under my husbands. Then I found out that my husband had a company called D and B, I never heard of it, & there's where the credit report came from. So I've been through H_E_L because of them underhanded snake's and I lost everything because of greed and corrupt attorneys. Yes I was married 30 years & my attorney set me up in my mentally unstable time when I needed her to do her job. She not only did not do her job but she set me up for financial loss in a way to where I couldn't buy groceries or pay my bills. 11,000.00 what I made last year and Ms. Elizabeth ZIARKO of Tipton County TN. told me that I couldn't get alimony, nor any retirement, & his adultery carried no weight. She lied about everything & no financial study was mentioned nor any thing else. I later found out she was involved in the housing market and her family my ex's best friend was also involved, & my judge!!!! Tell me where is the lawyers that abide by the oath they took? So I go into a deep depression, sit in dark at night and no light did I see at the end of the tunnel. I thought the law failed me, because I'm struggling & paying for his sins & have nothing. I tried to take my life twice because of them and have thrown up every day for 8 years, had to get on high blood pressure meds and see a head Dr. that had me on all kinds of things. So these people are heartless, cold and after everyone who gets in their way. They are the evil landlords also. I've been working very hard finding out what happened during my marriage and I am shocked everyday at what I have found & I didn't know people did these things to other's & to know it started here in my home town broke my trust in anyone. Tipton County TN. 55 to 60 years ago a group of people got together and started buying properties and stocks in companies. Now they are the majority shareholders of almost every company in the world!!!! To name a few JP Morgan, Vanguard, BlackRock, Citibank, Dun Bradstreet, Wells Fargo, fidelity, Fannie, Freddie, housing association, realtors, & on & on..... But I have seen bad things & government turns their heads I guess, just fines them. Every business they have has filed many bankruptcies and people listed on them Don't exist. They watch funeral home's and do ghosting, which is steals people nanes and hide property, then they go from county to county buying properties and business license and most never have a business. Then they leave all these properties unclaimed property and businesses and money. If they evict a tenant they have many times stolen everything so they won't come back and yes I've seen loads of people's stuff. When I confronted my ex and told him I knew what he was doing to the tenants, nothing ever came back around me. Yes I was stupid for not knowing he was living 2 lives, but I know when I see things that are EVIL manipulating and underhanded. I'm so sorry to all the tenants that have been mistreated and his Mom didn't raise him this way. Every person hired to manage their HUD homes are hired over the internet so no one can identify them. They didn't count on me finding out & I'm 💯 absolutely sure what they are doing. I don't know what you call it but I know they are involved with the government it seems. I run reports through the government website on business connecting them and everytime a company is committed fraud or bankruptcy I look for the major holder's of the companies. That's where you see JP Morgan, Vanguard BlackRock, fidelity and etc. As far as their name's well my ex's mistress was obsessed with Hog and his name is Gregory Harris Rose & her name is Donna Cooper. Gregory Harris Rose's name is freaking everywhere and she will add a last name but on majority , you can tell she's crazy but smart. No one will help me because with all these companies they have used lawyers everywhere, & no one will help me go back to court on my fraudulent divorce. I have all I need because my divorce was unfair dissapation and that's all I want is half his 2 retirements, pension, TSP, & I want my home back and I want paid for the illegal foreclosure from JP Morgan, & I want alimony and back pay for the last 8 years. I also want compensation for 30 he took of my life because I deserved a real marriage and family and I will never have that. Every thing they do is criminal, BIGAMY to put properties in tenancy by entirety & Land Trust, offshore accounts, you name it. They are also American airlines, & fly airplane's everyday AROUND HERE and I despise them. But for now I know they want me done away with, but I just want to live a simple life & I have COPD STAGE 3, EMPHYSEMA, & FIBROMYALGIA & very sick. I just want to live a quiet life for what time I have left & I can't because I can't pay my bills because of them. I'm doing all I can to get things to help the people they destroyed, I'm just alone and fighting for something that my lawyer should have done. Someone will tell this story one day because it affects the world & it's so hard to believe what they have done. Can you imagine learning your 30 year marriage was only for show to hide wealth with his mistress. I still can't believe it & it's been 8 years since I've been able to go to the grocery store and my holiday is alone in the dark because I lost my son's and grandkids because I cry all the time. I have nothing but somewhere there has to be a court to help me at least that's what I pray as I cry myself to sleep. I want these companies investigated, .

Posted by

Our property was fraud from beginning from ceased lender that was shut down by state of GA. Lender re opened under other names then withdrawn disappear by Sec of State in GA. the loan was with EMC Mortgage (owned by corrupt bank Bear Stearns) many later years then JPMC acquired loans from Bear Stearns/EMC. JPMC continued to keep EMC Mortgage name on every document through out 2011 even though JPMC took over in 2009 as they stated in their welcome letter sent in 2009. Remind anyone reading this...JPMC said they are not correct party in fed court. Who Is correct? Would not say at court hearing, Who Was the correct part if JPMC was not, but they took the payments and previous party EMC originally taking the payments was later acquired by JP Morgan Chase & Co. as part of the family.

Loan was with Wells Fargo from previous owners which satisfaction of mortgage filed and recorded with the fake forged documents by signature of Linda Green and in many news, media resources showing the fraud (search all the stories from 60 minutes to other news coverage of the fraud, Robo signer Linda Green which is actually forgery & falsifying documents). The assignment should have been recorded from party A to party B to party B to C (none of this happened) Like a car title, you must show true title and legal ownership between each party, but not on the biggest asset of your life I guess?

See Tennille vs Western Union settlement of $586 million involvement with national banks and homeowners missing payments to cause defaults? Our payments went missing without any notice on several occasions. How many other homeowners didn't even realize where their payments went and sending records to prove to the banks, the bank pretends that they did not receive records and have you repeat process over and over just like 6 loan modifications completed after qualifying after first one in 2008 - this is not right! News isn't talking about this either? Still we are missing payments that were taken by the bank and never applied. The Tennille vs Western Union settlement was to get customer money back from laundering. Proof was included in claim and along with copies of missing payments made and only received one of the missing payments in settlement and now who's keeping settlement money after proving money missing.

Recordings and records of every payment made by Western Union stating proving they could see all payments each month made. Reps stated by western union that it looks intentional that the bank did not want your payments to be successful for some reason....yes, bank needed to cause us default so they can sell reclaim new title since they didn't have true title when we were put into this situation out of our control, the roller coaster ride from hell began after ID Theft/Fraud in 2007. Bank offer application for the wonderful loan modification that was never ending and breached by the bank from 2008-2016 (3-6 Month to complete modification and paid monthly payments without missing any payment. This was also stated in the contract which was recorded). *Note: EMC and JPMC stated to make loan mod payments by Western Union until modification was completed and did so, then the bank and western union caused default and took the payments making it look like we missed and never missed under the contract/plan.

How many homeowners were making payments during the financial crisis but payments on occasion were being rejected by the bank without notice but adding late fees. No notice received from Western Union to pick up any refund either. Bank takes payment and never applied all to cause default to take your property and they do illegally. Reps from both JPMC said very strange account, missing comprehensive note logs that once were of record, altered and removed parties and no dates posted in the electronic stored information which banks rely on for accurate records.

We received one of missing payments after federal case dismissed from Settlement of Tennille vs Western Union proving the month that the fake assignment was also filed and recorded in the property records by JPMC in August 2009 (this assignment was filed and recorded over 4.5 years of closing date breaking the law of the trust that states the loan must be placed within 90 days of the trust law and defrauding its so called investor. The loan was not placed into the trust and confirmed by auditors and private investigators hired. The NOTE was left blank so that the other party listed with JPMC (The Bank of NY Mellon) can then steal property take ownership and completes a sheriff sale with no opportunity to redeem as parties ignore giving total amount due, nor answers the phone per judges request to re instate. Property was already flipped to another persons name at Wells Fargo even though assignment stated by JPMC and The Bank of NY Mellon, all changed secretly privately while in litigation and was living at property.

JPMC denies they own or any wrong doing like majority of cases filed against them. JPMC has paid over $300 billion in settlements, fines but not guilty nor wrong doing, they are not in media because they own much of the National Media and not talked about on live News and should we all should boycott but they will just open under additional bank names.

A new servicing company Specialized Loan Servicing hired an agent after the case against JPMC to only attempt foreclosure and have The Bank of New York Mellon then do sheriff sale. Servicing company admitted they had limited records and had to trust previous party of JPMC. JPMC was party behind the organized crime and assignment was fake with blank endorsement, so later they could transfer and have BONYM purchase at sheriff sale with no opportunity to redeem as they sold back to Wells Fargo and individual name, but not ours while in litigation and living at property. Defendants listed were not Wells Fargo in fed cases filed but should be in a new case along with servicing company SLS and then reopen criminal case against JPMC, EMC Mortgage and The Bank of New Mellon. See illegal evictions and wrongful foreclosures across our nation by these entities still going on from the financial crisis games. Watch Movies: 99 Homes and The Big Short (this all happened to us with the same parties from movies of Big Short based on true stories including watch in back ground letter ASE - not able to show name CHASE). Movie "99 Homes" we watched not realizing this game and organized crime with local investor, hired agent by SLS from another state on list for them to follow instructions to break in to property illegally without any Writ (never issued posted or executed by any sheriff and confirmed by sheriff dept. on several occasion). Neighborhood and some city authority involvement. Not one police officer from 2 separate phone calls came to property after break in and waiting over 1 hr for help. Private investor who looking through windows involves with some neighborhood contractor/architect who support the local police department. This is huge organized crime going on with the buddy system profit flipping and flipping then file assignment. Property flipped hands 2 times then the 3rd time party moves in to property all less then one year after illegal break in. We know connected parties involved and investigations continues because they are doing to many others with local investor working with the same banks complaint filed in court and with agencies.

These greedy entities are Killing our American so called Dreams we have worked our whole life for and can happen to you or your children very easily.

Thank you for taking the time to read this and believe this is these entities and type fraud or illegal evictions, unfair practice etc...see similar cases all over the united states fighting for justice and JPMC and some attorneys that has falsified statements and documents to the courts as well not just to their customers.

Hope to hear from those stronger then the crooks to stand up and take back!

Posted by

They took my home under deceptive practices and false documentation.

Posted by

I had a added insurance clause with JP Morgan & Chase if job loss was a benefactor to foreclosure home loan would be given extra time.but not a bit went into foreclosure so fast it wasn't even mentioned

Posted by

I'm still renting because I haven't been able to get back on track. I don't think I will ever own my own house again and that's hurtful.

Posted by

Five loans with Washington Mutual five year notes to a balloon are being sold to other securities.l received these mortgages before the sec shut WAMU down, l have been stuck in neutral for 7 years, one loan has been sold twice now. l have original documents. The whole mess put me on disability.


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