Nearly $110,000 in counterfeit bills were discovered at two Chase ATM's in Midtown on Monday.
According to police, the forged bills were detected at the bank's branches on West 57th Street and on Ninth Avenue by an alarm monitoring for counterfeit money. They were also easily distinguishable as fake because they only had printing on one side of the bills.
The New York Times reports a 26-year-old employee at NCR Corporation, an electronics company that works with ATMs, is suspected to have stolen the real cash. He is believed to be in the Dominican Republic.
Two customers also alerted bank officials after attempting to take out cash and recognizing the counterfeit bills.
A statement from JP Morgan Chase said, "We are working to get all the facts and don't want to come to any conclusions too early. Obviously, all of our customers who withdrew money will be made whole."