Member access

4-Traders Homepage  >  Shares  >  Nyse  >  JPMorgan Chase & Co.    JPM   US46625H1005

Delayed Quote. Delayed Nyse - 01/29 04:00:21 pm
55.67 USD   +1.68%
01:25a JPMORGAN CHASE : New director to join Moneycorp
01/29DJShake Shack Prices IPO Above Expectations
01/29DJShake Shack Prices IPO at $21, Above Expectations, Source Says --..
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

JPMorgan Chase & Co. : JPMorgan in talks with U.S. Attorney over Madoff warnings: WSJ

12/06/2013 | 08:32pm US/Eastern

The U.S. Attorney's Office in Manhattan is looking into why JPMorgan Chase & Co did not file a suspicious activity report about Bernard Madoff before he was arrested for running a multibillion-dollar Ponzi scheme, the Wall Street Journal reported on Friday, citing people close to the probe.

The bank is negotiating a settlement with U.S. Attorney Preet Bharara's office over the matter that will likely include a fine and a deferred prosecution agreement, the Journal reported.

A spokesman for the bank could not immediately be reached for comment on the Journal story.

JPMorgan had raised concerns with UK regulators about Madoff more than a month before his arrest in December 2008, the Journal reported. In a document filed with Britain' Serious Organized Crime Agency, the bank raised several concerns about Bernard L Madoff Investment Securities, such as returns that appeared "too good to be true," the Journal said.

Madoff had a banking relationship with JPMorgan for two decades, the Journal said.

In addition to the Madoff case, prosecutors and the Federal Bureau of Investigation are examining whether there was a larger pattern of failed controls at the bank, the paper said, citing people close to the probe.

Madoff is serving a 150-year prison sentence after pleading guilty to running a Ponzi scheme that cost investors billions of dollars.

JPMorgan has said it did not know about the fraud, the Journal said.

Suspicious activity reports are required when a bank finds suspicious transactions or signs of a violation of federal law.

The Madoff probe comes as JPMorgan grapples with a string of legal troubles. Over the past few months, it has agreed to pay nearly $20 billion to settle lawsuits and probes, the Journal said.

(Reporting by Dena Aubin; Editing by Eric Beech)

React to this article
Latest news on JPMORGAN CHASE & CO.
04:31a JPMORGAN CHASE : Valuation for BOCHK's asset sales attractive
01:25a JPMORGAN CHASE : New director to join Moneycorp
01/29DJShake Shack Prices IPO Above Expectations
01/29DJShake Shack Prices IPO at $21, Above Expectations, Source Says -- 2nd Update
01/29DJShake Shack Prices IPO at $21, Above Expectations, Source Says -- Update
01/29 JPMORGAN CHASE : Community Leader and JPMorgan Chase Executive Maria Quintana An..
01/29 MICROLAND COMPUTERS : Carlyle to back kar's microland
01/29 JPMORGAN CHASE : Seagate Technology PLC Given New $61.00 Price Target at JPMorga..
01/29 JPMORGAN CHASE : JP Morgan ups Shenzhou Int'l to HK$38
01/29 KCG : BATS exchange buys Hotspot FX
Advertisement
Chart
Duration : Period :
JPMorgan Chase & Co. Technical Analysis Chart | JPM | US46625H1005 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF