Lawyer Sues Chase Bank Over $185,000 Account Closure

Brian Adesman, a 32-year-old resident of California, has initiated legal action against Chase Bank, alleging that the financial institution abruptly closed all of his personal and business accounts without any prior notice or explanation. Adesman, a founding lawyer of the Miller Adesman law firm, claims that at the time of the closure, his accounts held approximately $185,000. This sudden action by Chase Bank has had severe repercussions for Adesman, including the cancellation of his wedding and a subsequent influx of debt collectors.

The closure of Adesman's accounts has left him in a precarious financial situation. The abrupt loss of access to his funds has forced him to cancel his wedding plans, which had been meticulously arranged. Additionally, the lack of funds has led to a flood of debt collectors, further exacerbating his financial distress. Adesman's lawsuit seeks to recover the $185,000 that was allegedly in his accounts when they were shut down.

Adesman alleges that Chase Bank's actions have "destroyed" his life. After the financial institution seized his funds, he was forced to cancel his wedding and move into a caravan due to missing mortgage payments on his Los Angeles apartment. He has filed complaints with various government regulators, including the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Attorney General, and the Department of Financial Services. However, more than a year later, he is still fighting for restitution.

Chase Bank has stated that it identified "concerning transactions" and took appropriate action as permitted by its account terms. The bank also points to a separate lawsuit filed by a company in New Jersey that claims it was duped into making fraudulent payments, including $3.7 million deposited into Adesman’s law firm’s account. However, Chase Bank did not confirm whether the allegations led to the freezing of Adesman’s accounts. Adesman denies any wrongdoing and suspects the bank flagged him solely after he received lawful settlement payments for legal services provided to a client. He also claims he was unaware of the New Jersey legal case.

In his initial suit, Adesman alleges that Chase vowed to return some of his funds, totaling $175,649, via a cashier’s check within 10 business days. However, Adesman claims he never received the promised check. This situation underscores the importance of transparency and accountability in the banking industry. Customers rely on banks to safeguard their funds and provide clear communication regarding their accounts. When banks fail to meet these expectations, it can have devastating consequences for their customers. The lawsuit filed by Adesman seeks to hold Chase Bank accountable for its actions and to recover the funds that were allegedly in his accounts at the time they were closed. The outcome of this case could have significant implications for the banking industry and its treatment of customers.