Saturday, September 03, 2011

RICO Suit v. JPMChase (!)

This has been a bad two days for Chase.  First, the Fan/Fred suit.

Now this:

Thirty-two Plaintiffs have filed a multi-count Complaint in the Circuit Court for Palm Beach County, Florida against JPMorgan Chase Bank and Chase Home Finance, LLC. The Plaintiffs retained Jeff Barnes, Esq., whose Firm, W. J. Barnes, P.A., filed the action last Friday.

The 29-page Complaint alleges several causes of action including violations of the Florida RICO Act, and requests temporary and permanent injunctive relief on a national level to halt all Chase-related foreclosure activity in the eight (8) separate states in which the Plaintiffs reside  --Ticker quoting ForeclosureDefense

Apparently Chase has been claiming that it is something that it is, actually, NOT:

JP Morgan has been running around suing people for foreclosure alleging that it is the successor in interest of Washington Mutual (remember WaMu, the bank that got me interested in writing in the first place when they were paying dividends out of capitalized interest?  Yes, them.) when in fact all they acquired was certain defined assets and liabilities on a strict and written schedule from the FDIC.

We'll see how this plays out.

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