JP Morgan To Pay $2M Over National Century Collapse

Law360, New York (March 28, 2008, 12:00 AM EDT) -- JP Morgan Chase NA will shell out more $2 million to quell U.S. Securities and Exchange Commission charges over the financial services firm's alleged role in the fraud leading up to National Century Financial Enterprises Inc.'s 2002 collapse into bankruptcy, a collapse the SEC said cost investors $2.6 billion.

Pursuant to the settlement pact, JP Morgan Chase will hand over almost $1.3 million in disgorgement and more than $700,000 in interest to a bankruptcy trustee for National Century's post-confirmation trusts, for distribution to aggrieved investors in...
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