Texas Man Loses $32,000 Life Savings in Bank Impersonation Scheme – But Chase Will Only Reimburse Him $2,000: Report

A school teacher in Texas reportedly lost all of his life savings after answering a phone call from someone who pretended to be working for his bank.

WFAA reports that the schemers called Russell Leahy and convinced him that they were bankers with Chase Bank.

The perpetrators told Leahy that he had been defrauded and needed to move his money into a new account. They also sent him text messages and banking information that looked real.

Leahy is now warning others not to fall for the scheme. The 26-year-old newlywed says he spends his weekends at home and avoids traveling to save money for starting a family. After losing $32,000 to the scammers, he says he is now living paycheck to paycheck.

Unfortunately for Leahy, Chase only gave back $2,000 because the incident is not covered by fraud protection.

Says Chase in a statement,

“Fraud on a bank account involves someone illegally accessing someone else’s account and making withdrawals, transfers, or purchases without the account holder’s permission.”

The bank says that in scenarios like Leahy’s case, the perpetrators employed a deceptive scheme or trick to cheat someone of their money or valuable assets.

Customers who are not sure if the person calling them is a real representative of the bank can call the number on the back of their card or visit a branch.

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