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JP Morgan may have been involved in a conspiracy to sell homes in the Pocono Mountain area at inflated values.
Investigation Source
- Pennsylvania
Investigation Scope
Category Information
Investigation Topics
- Misrepresentation
- Unfair and Deceptive Services
- Inflated Appraisal
- Improper Solicitation
Product or Service
- Home Loan
Injury Type
- Monetary Loss
Investigation Details
Investigation and pending multiple similar lawsuit against JP Morgan Chase on behalf of more than 170 first-time homeowners in Pennsylvania challenging mortgage and appraisal fraud lending in connection with their home purchases in the Pocono Mountain area.
Specifically, the lawsuits allege that JP Morgan Chase were involved in a conspiracy to lure first-time home buyers from the New York Metropolitan Area and sell them homes whose value was knowingly inflated by as much as %40-%50 above their fair market value.
The lawsuits allege that the defendants' conduct violated federal civil RICO and state consumer fraud laws designed to curtail such conduct.
Specifically, the lawsuits allege that JP Morgan Chase were involved in a conspiracy to lure first-time home buyers from the New York Metropolitan Area and sell them homes whose value was knowingly inflated by as much as %40-%50 above their fair market value.
The lawsuits allege that the defendants' conduct violated federal civil RICO and state consumer fraud laws designed to curtail such conduct.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| JPMorgan Chase & Co. (JPM) | JPMorgan Chase & Co., a financial holding company, provides a range of financial services worldwide. It operates in six segments: Investment Bank, Commercial Banking, Treasury & Securities Services, Asset Management, Retail Financial Services, and Card Services. |