FINANCIAL TIMES: Jamie Dimon, chief executive of JPMorgan Chase, signalled the bank planned to pay penalties over allegations that it failed to notify US authorities that it was worried Bernard Madoff was running a Ponzi scheme…
Madoff himself predicted the payment in a 2011 Financial Times interview from the prison where he is serving a 150-year
sentence. “JPMorgan doesn’t have a chance in hell of not coming up with a big settlement,” he said.
According to a separate legal complaint, JPMorgan knew about the Madoff fraud going as far back as 1997 when it was alerted to “round-trip transactions” to and from Madoff’s JPMorgan account… (more)
