Bag of stones
JPMorgan Chase thought it had $1.3 million of nickel, but they were all bags of stones. It's happened before to many others.
  • JPMorgan Chase kept bags of stones in a warehouse thinking they were nickel.
  • The discrepancy was discovered by the London Metals Exchange last week.
  • But this is not an isolated case — it has happened before. 

JPMorgan Chase received a bag of stones instead of the nickel it ordered, in a surprising mix-up last week at a warehouse in Rotterdam, a Dutch port city.