Pursue clients accused of exploiting viral ‘money bug’ to steal $660,000 dollars

• JPMorgan Chase has filed four lawsuits in federal court against two individuals and two companies, alleging check fraud related to a “glitch” that went viral on social media
• The complaint says one person in Texas who allegedly took part in the scheme now owes the bank $290,000
• “We are investigating these incidents and are actively working with law enforcement to ensure that if anyone commits fraud against Chase and its customers, they are held accountable,” a JPMorgan spokesperson tells PEOPLE

JPMorgan Chase is suing customers for alleged check fraud, claiming they stole hundreds of thousands of dollars after a “technical glitch” went viral on TikTok.

On Monday, October 28, the banking giant filed four lawsuits in federal courts in California, Florida and Texas. Reuters reported. He accused two people and two companies of withholding more than $661,000 after they allegedly deposited counterfeit or forged checks.

According to Reuters, the “glitch” occurred in August NBC Newsallowed customers to deposit large checks at ATMs and then quickly withdraw the funds before the checks could clear or bounce – a trend that became popular on social media CNBC reported.

According to a complaint filed in Texas and reviewed by PEOPLE, JPMorgan Chase alleged that on August 29, a “masked man” deposited a check at a Houston-area Chase ATM in the amount of $335,000.

“After depositing the check, (the customer) began to withdraw the vast majority of his ill-gotten funds in rapid succession,” according to the complaint. “The check was ultimately returned as fraudulent, resulting in a significant negative balance. As of the filing date, he owes Chase $290,939.47.”

In the complaint, JPMorgan Chase said it contacted the customer about the fraudulent check and overdraft, but the customer did not respond. As a result, the Bank demands a judgment ordering the immediate payment of funds and overdraft fees.

Meanwhile, according to California court records seen by PEOPLE, JPMorgan Chase said a Los Angeles defendant owed the bank $90,794 after depositing two checks in the amount of $59,223.45 at an ATM on August 27 and 28 and $56,840.10. and then made significant withdrawals. The checks were bounced by the issuing bank and “returned as fraudulent.”

In another complaint filed in Florida and reviewed by PEOPLE, the defendant was accused of depositing a fraudulent check in the amount of $149,000 at an ATM into a Chase bank account on August 23.

“Specifically, three days later, defendant personally transferred the amount of $110,000 to a third party,” the complaint reads. “On the same day, the defendant made three more personal withdrawals from the same branch in the amounts of $5,000, $9,900 and $10,000. After making subsequent withdrawals, Defendant essentially depleted his account of all funds deposited from the fraudulent check.” In the complaint, the bank said the defendant currently owes $141,295.84.

In another similar case, also filed in Florida, JPMorgan Chase alleged in a complaint that on August 28 and 29, an individual deposited two checks at a Chase ATM in the amounts of $75,000 and $245,999.12. Then this person “began to transfer a significant number of patients – he withdrew funds from the account.

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“Ultimately, the checks were returned as fraudulent, resulting in a significant negative balance,” she added in the complaint. As of the filing date, defendant owes Chase $138,680.91.

The complaints show that, as in the Texas case, JPMorgan Chase is seeking payment of overdraft funds and other related fees from defendants in the California and Florida cases.

JPMorgan is investigating numerous cases related to the “infinite money fallacy.”

In a statement shared with PEOPLE on Wednesday, October 30, a JPMorgan Chase spokesperson said of the ongoing litigation with the bank: “Fraud is a crime that affects everyone and undermines confidence in the banking system. We pursue cases like this and actively cooperate with law enforcement to ensure that anyone who commits fraud against Chase and its customers is held accountable.”

PEOPLE has contacted three of the four defendants named in the complaint.