Bloomberg: JMorgan-Madoff Case Won’t Be Last Big One



Bloomberg reported Manhattan U.S. Attorney Preet Bharara said an agreement requiring JPMorgan Chase to pay $2.6 billion to resolve criminal/civil allegations that it failed to stop Bernard Madoff’s Ponzi scheme isn’t “the last big” money-laundering case his office will bring.

According to Bloomberg, Bharara said in a speech to the Association of Certified Anti-Money Laundering Specialists that his office prosecuted JPMorgan because the bank and its predecessors “ignored red flags” for years and allowed suspicious transactions to occur in Madoff’s account.

To read the entire Bloomberg article, click here.


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