Saturday, December 14, 2013

Madoff: I helped feds nab JPMorgan | New York Post

Madoff: I helped feds nab JPMorgan | New York Post
"Bernie Madoff, one of the world’s most reviled fraudsters, helped regulators ding JPMorgan Chase.
The 75-year-old felon boasted in an email made public Friday that he provided “key information” to the Treasury’s Inspector General’s office that, presumably, was relayed up the chain of command and eventually used by Manhattan prosecutors in their expected $2 billion criminal action against the bank."
"JPMorgan was Madoff’s primary bank for more than 20 years.
On Dec. 11, it was learned that JPMorgan could face as much as $2 billion in penalties from a criminal action brought by Manhattan US Attorney Preet Bharara for willfully turning a blind eye to Madoff’s scam.
JPMorgan is one of a number of banks, including HSBC and UBS, ensnared in government probes over their roles in the massive fraud, sources point out."