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Bonomi Sues JPMorgan Chase for Giving Him a Loan to Buy Doomed House
John G. Bonomi Jr. is suing JPMorgan Chase for $3.85 million plus interest and additional damages, claiming the bank took advantage of his bipolar disorder by providing a mortgage for a rapidly eroding property in Wellfleet, Massachusetts. Bonomi, who had the house demolished last year, argues he was mentally incapable of entering the contract. JPMorgan Chase disputes the claims, stating that Bonomi was provided an appraisal and that impending retirement is not a reason to deny a mortgage.