10 years ago
JPMorgan To Pay Madoff Fraud Victims $1.7 Billion
JPMorgan Chase has agreed to pay $1.7 billion to the victims of Bernard Madoff’s massive Ponzi scheme. Authorities said the banking giant admitted in a settlement unveiled Tuesday that it didn’t have an effective money-laundering program and didn’t file a suspicious activity report on Madoff’s activities, the Wall Street Journal reports.
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