Bullion Trading LLC, a precious metal company, is treated with JPMorgan Chase Bank, NA for alleged compensation of more than $ 500,000.
The complaint claims that Chase has repeatedly blocked or reversed legal transfers of incoming cables by those involved in the Bullion Trading Business Account to Waterfall Bank.
The plaintiff argues that, without a legal basis, Chase employees or representatives described the label of trade as “fraudulent” or “fraud” when communicating with the plaintiff’s customers, thereby causing significant financial losses, business disorders and damage.
Despite the efforts of Bullion Trading – that is, by contacting Chase Executive Offices, submitting regulatory complaints to the office of the Currency Auditor (OCC) and the Consumer Financial Protection Office (CFPB) and looking for a friendly resolution – Chase’s behavior continued unabated.
The plaintiff argues that, as a direct result of the defendant’s actions, Bullion’s negotiation has been damaged in an amount exceeding $ 500,000 and is now seeking exemption through the court.
On July 22, 2025, JP Morgan published a statement on the abolition of the case by the Supreme Court of New York, the County of Rockland. The trial is now going to go to the southern provincial court of New York.