On July 22, 2015 our company VIDYPS 79 d.o.o. initiated a payment of $17,950 based on the Agreement with "Universal Music Group Distribution" ("UMGD") to a "JPMorgan Chase Bank" bank account holder. Our company approved the transfer having confirmed "Universal Music Group Distribution" as a beneficiary customer. On the other hand, "Universal Music Group Distribution" never confirmed that they received this payment. We therefore looked into the records and found that according to the official bank statement following up on this transaction, the formal beneficiary customer was "Universal Music Group Distribution". But also, some time later we found out that the bank account owner, previosly introduced as a "UMGD treasurer", had nothing to do with "UMGD" from a legal point of view. The Agreement itself appeared to be fraudulant as well. By law the Bank is obligated to have all the information about its account holders and their business (if any). "JPMorgan Chase Bank N.A." was under an obligation to confirm whether the bank account holder was legally bound to the beneficiary customer or not prior to approving the wire transfer. If not, the transaction must have been declined by the bank. For some reasons still left unrevealed, it didn't happen. Yet we do know that it couldn't have been a coincidence. It looked like a scam prepared in advance. Vladimir Milicev, CEO of VIDYPS 79, contacted the State of New York, Department of Financial Services and the Bank demanding an explanation.