"Another lawsuit against JPMorgan Chase is brewing in California, and this one has the potential to blow up big.
It claims JPMorgan Chase systemically engaged in forgery to gain an upper-hand in thousands of bankruptcy cases since 2009. [via Huffington Post]
The lawsuit, which is still waiting to obtain official class-action designation by the California court system, alleges that JPMorgan Chase fabricated mortgage-related documents in thousands of bankruptcy cases to make a profit and remove itself from the responsibility of money-losing mortgages.
The complaint claims that documents were "photo-shopped" to show Chase had the rights to money due under mortgage loans, allowing the bank to obtain "relief from stay" motions in bankruptcy court."