The trustee seeking money for Bernard Madoff's victims is now demanding $19 billion in damages from JPMorgan Chase & Co, more than tripling what he hopes to recover from what had been the main bank for the now-imprisoned Ponzi schemer, according to Reuters.
The amended complaint by the trustee Irving Picard adds new charges and was filed three days after the second-largest U.S. bank agreed to pay $153.6 million to settle U.S. Securities and Exchange Commission fraud charges.
Picard maintained that JPMorgan was "thoroughly complicit" in Madoff's fraud and ignored red flags. In his original complaint, made public in February, he had sought $6.4 billion, including $5.4 billion of damages and $1 billion for fraudulent transfers and claims….
Find out the rest at: http://news.yahoo.com/s/nm/20110625/bs_nm/us_jpmorgan;_ylt=AgtN.21c0JZ5P11AM5mciPCyBhIF;_ylu=X3oDMTI4YmJtdTR1BGFzc2V0A25tLzIwMTEwNjI1L3VzX2pwbW9yZ2FuBHBvcwM1BHNlYwN5bl9tb3N0X3BvcHVsYXIEc2xrA21hZG9mZnRydXN0ZQ--
No comments:
Post a Comment