9th Circ. Clears JPMorgan In Bank's $130M Ponzi Scheme

By Zach Winnick (March 20, 2012, 5:15 PM EDT) -- The Ninth Circuit on Tuesday affirmed the dismissal of two consolidated class actions alleging Washington Mutual Inc. aided a $130 million Ponzi scheme by Millennium Bank, saying the plaintiffs failed to exhaust Federal Deposit Insurance Corp. administrative remedies against its successor, defendant JPMorgan Chase Bank NA....

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