JPMorgan Let Health Facility Boss Steal $2M, Suit Claims

Law360, New York (August 9, 2011, 6:19 PM EDT) -- A mental health facility hit JPMorgan Chase Bank NA with a breach of contract suit Tuesday in New York federal court, alleging it allowed the nonprofit's former head to steal $2.3 million from the institute's account.

The plaintiff claims it knew since February that Jeffrey Bernstein, formerly the president of the Albert Ellis Institute's board of trustees and chairman of the Manhattan Chamber of Commerce, had been making numerous unauthorized wire transactions in the institute's Chase Bank account.

“This is an action by the Albert Ellis...
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