Bullion Trading LLC has filed a lawsuit against JPMorgan Chase Bank, seeking damages exceeding $500,000 for alleged interference with its business operations and reputation.

According to court documents, Bullion Trading accuses JPMorgan Chase of repeatedly blocking or reversing legitimate wire transfers sent by Chase customers to Bullion Trading’s business account at Waterfall Bank. The complaint further alleges that Chase employees or representatives have, without legal justification, labeled Bullion Trading as “fraudulent” or associated with a “scam” when speaking with Bullion Trading’s clients.

Bullion Trading LLC Sues JPMorgan Chase for Over $500K

Bullion Trading contends that these actions have led to severe financial loss, business disruption, and reputational damage. The company claims to have made several attempts to resolve the matter, including contacting Chase Executive Offices and filing complaints with the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB). Despite these efforts, Bullion Trading asserts that the alleged misconduct by Chase has persisted.

The complaint emphasizes that the plaintiff has suffered damages in excess of $500,000 due to Chase’s alleged interference, prompting the company to seek legal relief through the courts.

On July 22, 2025, JPMorgan Chase filed a Notice of Removal, transferring the case from the Supreme Court of the State of New York, County of Rockland, to the U.S. District Court for the Southern District of New York. This procedural move places the case under federal jurisdiction, where proceedings will now continue.

The outcome of the lawsuit could have implications for how banks handle wire transfers to businesses flagged under internal review procedures, particularly in industries like precious metals that often face heightened scrutiny.

As legal proceedings unfold in the Southern District of New York, the outcome may set a precedent for how financial institutions manage risk while balancing the rights of legitimate businesses.

As of now, JPMorgan Chase has not publicly responded to the allegations.

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