JPMorgan Chase Bank Account Freeze Pushes Miami Business Owner to Bankruptcy

In an alarming turn of events, a Chase Bank customer found himself locked out of his account for nine crucial months—a saga that unfolded after attempting to deposit a $65,000 check from the U.S. government. This alarming incident, initially reported by NBC-affiliate WFLA News, centers around Sean May, a Miami-based entrepreneur entrenched in a new reality when Chase suspected fraud after he deposited his IRS-issued refund.

The freeze left May in a financial quagmire. Despite presenting a letter verifying the legitimacy of the check from the IRS, Chase stood its ground, keeping his account and his funds inaccessible. "My understanding is that they have cashed the check. They do have the money. It’s just not accessible to me, and my account has been closed," May lamented. The inability to access his funds, he alleges, contributed significantly to the bankruptcy of his software development firm.

WFLA News reached out to Chase to learn more about May’s concerns. Within days after reaching out to the bank, Chase Bank abruptly decided to release May’s money. "Upon review of this case, we reached out to our customer to apologize for the delay and to let them know we are releasing their funds," a representative explained. May says that the bank gave him a call to let him know to expect the check this week.

Chase Bank was acquired by JPMorgan in 2000 and now operates under the JPMorgan Chase brand, managing $3.7 trillion in assets. This case sheds light on the intricate dynamics at play when financial institutions flag potential fraud. Operating under the JPMorgan Chase brand—since its acquisition in 2000—Chase Bank manages an impressive $3.7 trillion in assets, yet this incident highlights the human element that can sometimes falter amidst massive corporate operations.

As the dust settles, May awaits his check, a long overdue rectification of a stubborn bureaucratic hiccup. This incident serves as a poignant reminder of the potential financial complexities customers may encounter even with reputed banking giants.



In an unexpected turn of events, a Chase Bank customer found himself locked out of his account for nine crucial months—a saga that unfolded after attempting to deposit a $65,000 check from the U.S. government. This alarming incident, initially reported by NBC-affiliate WFLA News, centers around Sean May, a Miami-based entrepreneur entrenched in a new reality when Chase suspected fraud after he deposited his IRS-issued refund.

The freeze left May in a financial quagmire. Despite presenting a letter verifying the legitimacy of the check from the IRS, Chase stood its ground, keeping his account and his funds inaccessible. "My understanding is that they have cashed the check. They do have the money. It’s just not accessible to me, and my account has been closed," May lamented. The inability to access his funds, he alleges, contributed significantly to the bankruptcy of his software development firm.

WFLA News reached out to Chase to learn more about May’s concerns. Within days after reaching out to the bank, Chase Bank abruptly decided to release May’s money. "Upon review of this case, we reached out to our customer to apologize for the delay and to let them know we are releasing their funds," a representative explained. May says that the bank gave him a call to let him know to expect the check this week.

Chase Bank was acquired by JPMorgan in 2000 and now operates under the JPMorgan Chase brand, managing $3.7 trillion in assets. This case sheds light on the intricate dynamics at play when financial institutions flag potential fraud. Operating under the JPMorgan Chase brand—since its acquisition in 2000—Chase Bank manages an impressive $3.7 trillion in assets, yet this incident highlights the human element that can sometimes falter amidst massive corporate operations.

As the dust settles, May awaits his check, a long overdue rectification of a stubborn bureaucratic hiccup. This incident serves as a poignant reminder of the potential financial complexities customers may encounter even with reputed banking giants.