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JPMorgan Accused of Aiding Firm's Principal in $18.5M Client Theft

Guavy AI Editorial Team Published September 11, 2026

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JPM

A Chapter 7 trustee has sued JPMorgan Chase Bank NA on behalf of Kossoff PLLC, claiming that the bank helped the firm's principal steal at least $18.5 million from clients.

The lawsuit alleges that JPMorgan facilitated the theft by allowing the principal to access client funds despite knowing that he was not authorized to do so.

The trustee is seeking damages from JPMorgan for its alleged role in the theft.

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