Madoff case accuses JPM

first_img Tags: NULL Show Comments ▼ whatsapp Thursday 3 February 2011 8:25 pm KCS-content Sharecenter_img EXECUTIVES at JP Morgan Chase suspected that Bernard Madoff was running a Ponzi scheme almost 18 months before he was charged with defrauding his investors out of $50bn (£35bn), claims a US court filing. Bankers got blunt warnings about the convicted fraudster but ignored them to protect JPM’s own interests, claims Irving Picard, the trustee seeking to recoup $6.4bn for Madoff investors, in court papers that were unsealed yesterday.Madoff was sentenced to 150 years in jail in 2009 for masterminding the massive fraud.JP Morgan Chase said yesterday the claims were unfounded, adding: “[We] did not know about or in any way become a party to the fraud orchestrated by Bernard Madoff.” It added: “Madoff’s firm was not an important or significant customer in the context of JPMorgan’s commercial banking business.” by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Madoff case accuses JPM Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof whatsapplast_img

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