Madoff Interviews Show JPMorgan Knew Of Fraud, Suit Says

Law360, New York (February 20, 2014, 4:05 PM EST) -- A shareholder derivative action filed Wednesday against JPMorgan Chase & Co. brass claims new evidence procured directly from Bernard Madoff shows JPMorgan leaders knew Madoff was engaged in fraud, but turned a blind eye in order to preserve its lucrative profits from Madoff-related business.

The suit is based in large part on prison interviews conducted by counsel for Central Laborers' Pension Fund and Steamfitters Local 449 Pension Fund with Madoff himself, who described how JPMorgan executives were aware of red flags in a key client's dealings...
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