Madoff Trustee Seeks $19B From JPMorgan In New Suit

Law360, New York (June 24, 2011, 7:58 PM EDT) -- The trustee overseeing the liquidation of Bernard Madoff's investment firm filed an amended complaint against JPMorgan Chase & Co. on Friday in New York, upping the amount of damages he seeks from $5.4 billion to $19 billion.

The new complaint strengthens previous allegations that JPMorgan was an “active enabler” of the Ponzi scheme run through Bernard L. Madoff Investment Securities LLC, said David Sheehan of Baker Hostetler, an attorney for trustee Irving Picard.

“JPMorgan not only should have known that a fraud was being perpetrated, they...
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