Valley family's bank account still missing

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PHOENIX - A Valley family thinks their bank lost their money.

The money was put in the bank about a decade ago but since then, that bank merged with Chase and now, the Marzella family says some of their money that was supposed to transfer over may have gotten lost in the move.

3 On Your Side contacted Chase to let them know of the issue. So, did Chase ever find the money?

"You know, you put your trust in a bank and yet they lie because they can get away with it," Franco Marzella said.

As you can tell, Franco remains pretty bitter with the banking industry.

In 3 On Your Side's first report on the Marzella's, Franco and his sister Marissa claimed Chase Bank lost track of an account opened up by thier grandmother, Maria,  nearly 10 years ago.

Maria, who immigrated from Italy, acknowledges she didn't monitor the account frequently but she says in the intial report that she'd like to know where the money went.

The account was relatively small 10 years ago, but the money was eventually supposed to grow and be used by Franco and Marissa when they entered college.

3 On Your Side gave Chase Bank some time to look into the matter, but what they discovered isn't sitting well with the Marzella family.

"I think this is just another case that got lost and they have to make excuses to cover their tracks," Franco said.

Chase tells 3 On Your Side that the account Maria opened was an investment account, meaning the balance can fluctuate up and down depending on the market.Unlike most bank accounts, investment accounts are not FDIC insured. Their statement even says that the account may lose value. 
   
In Maria's case, Chase believes the investment account zeroed out in the volitile market; and after sitting dormant, the account was eventually closed.

It's a hard lesson for the the Marzella family and they want Chase Bank to keep looking. "Hopefully, they can conclude this story happily," Franco said. "Find our account, give us our money which we put in the bank."

Remember, it's not a good idea to leave a bank account dormant or unused for a year or more.