Sunday, February 23, 2014

Madoff said JPMorgan executives knew of his fraud: lawsuit | Reuters



(Reuters) - Two senior officials at JPMorgan Chase & Co and predecessor companies repeatedly confronted Bernard Madoff over irregularities in his business, a new lawsuit said, suggesting that bank leaders had "direct knowledge" of his Ponzi scheme.




The lawsuit filed in
federal court in Manhattan on Wednesday on behalf of shareholders
against Chief Executive Jamie Dimon and 12 other current and former
executives and directors was based in part by statements made by Madoff
himself during a series of interviews.



"JPMorgan was uniquely positioned for 20 years to see Madoff's crimes and put a stop to them," the lawsuit said. . . . . . . . . . .





Madoff said JPMorgan executives knew of his fraud: lawsuit | Reuters

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