JPMorgan Chase, Bank of America and two insurance companies are in the spotlight after a large sum of cash abruptly disappeared from a Chicago man’s bank account.
Darryl Armistead received a check of $20,062.15 from insurance giant Allstate after a hailstorm damaged his house, reports NBC 5 Chicago.
But after depositing the check and hiring contractors to perform the necessary repairs, Armistead realized the money had disappeared from his checking account.
Armistead contacted all the organizations involved in the claims process, including Allstate Insurance Company and its bank, Bank of America, his mortgage company, JPMorgan Chase and insurance claims processor InsuranceClaimCheck.com.
“…First thing I did was to call claims, Chase claims. And they said that the insurance company had asked for the money to be returned…
The [claims] adjuster says, ‘Don’t expect to get your money anytime soon. This is going to be a long and thorough investigation.’”
Armistead says he couldn’t get a clear answer on why his money had disappeared. That’s when he turned to NBC 5 Chicago.
Less than a week after NBC 5 Chicago took up the matter, things turned around.
“At that point, the next day, Allstate issued the checks.”
As for what caused thousands of dollars to suddenly disappear from Armistead’s bank account, JPMorgan Chase tells NBC 5 Chicago,
“…The issue occurred when an original check from his [Allstate] insurance company’s bank [Bank of America], which had been canceled and reissued, was redeposited.”
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