JPMorgan May Face Fines Over Madoff Investment Account

Law360, New York (October 24, 2013, 10:08 PM EDT) -- JPMorgan Chase & Co. — the primary banker for Bernard L. Madoff’s infamous investment advisory business for 20 years — may face federal fines as prosecutors zero in on its possible role in enabling the Ponzi king’s $65 billion fraud, according to Thursday news reports.

The banking giant, whom Madoff's investors and his firm’s trustee have accused in a number of lawsuits of, at best, deliberately ignoring red flags in the bank activity of Madoff’s investment advisory business, is currently negotiating a deferred prosecution agreement with...
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