Aiding And Abetting | FORECLOSURE FRAUD | by DinSFLA

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ALLSTATE INSURANCE Co. v. COUNTRYWIDE, BANK OF AMERICA, MOZILO et al

ALLSTATE INSURANCE Co. v. COUNTRYWIDE, BANK OF AMERICA, MOZILO et al


Causes of Action:

Common law-fraud; aiding and abetting common-law fraud; negligent misrepresentation; and successor and vicarious liability

read the full complaint below…

[ipaper docId=46032654 access_key=key-1x8xbzdx6t2jo6fgkzy9 height=600 width=600 /]

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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TRUSTEE FOR LIQUIDATION OF BERNARD L. MADOFF INVESTMENT SECURITIES CHARGES JPMORGAN CHASE, MADOFF’S PRIMARY BANKER, WITH “ENABLING” MASSIVE FRAUD

TRUSTEE FOR LIQUIDATION OF BERNARD L. MADOFF INVESTMENT SECURITIES CHARGES JPMORGAN CHASE, MADOFF’S PRIMARY BANKER, WITH “ENABLING” MASSIVE FRAUD


The complaint seeks to recover nearly $1 billion in fees and profits and an additional $5.4 billion in
damages for JPMC’s decades-long role as BLMIS’s primary banker, aiding and abetting Madoff’s
fraud. All recovered monies will be placed into the Customer Fund and distributed, pro rata, to
Madoff customers with valid claims, the rightful owners of those monies.

“JP Morgan was willfully blind to the fraud, even after learning about numerous red flags surrounding Madoff,” said David J. Sheehan, counsel for the Trustee and a partner at Baker & Hostetler LLP, the court-appointed counsel for the Trustee. “While many financial institutions enabled Madoff’s fraud, JPMC was at the very center of that fraud, and thoroughly complicit in it. JPMC was BLMIS’s primary banker for more than 20 years, and was responsible for knowing the business of its customers – in this case, a very large customer. Madoff would not have been able to commit this massive Ponzi scheme without this bank. JPMC should pay the price for its central role in enabling Madoff’s fraud.”

Continue below…to read TO BE FILED UNDER SEAL COMPLAINT

[ipaper docId=44698094 access_key=key-3g7zv06us0ymnp7afom height=600 width=600 /]

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in STOP FORECLOSURE FRAUDComments (1)


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