JPMorgan Chase & Co will pay $1.7 billion to settle U.S. charges it violated laws requiring banks to monitor customer activity for money laundering in its handling of accounts of convicted Ponzi-schemer Bernard Madoff.
JPMorgan Chase Bank will be criminally charged with 2 violations of the Bank Secrecy Act in connection with the Bernard Madoff’s Multi-Billion Dollar ponzi-scheme.
Deferred prosecution agreement requires JPMC to admit its conduct, pay $1.7B to victims of Madoff’s fraud & reform its anti-money laundering policies.
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‘Until Jamie Dimon is in jail, there will never ..’ oh never mind.
Now I know why “Uncle” Jamie stole my house. He needed the money he made off it to help pay for the fines!