Madoff noose tightens around JPMorgan Chase
Information from the latest article in the Wall Street Journal (What J.P. Morgan Knew about Madoff Fraud, 2/17/11) doesn’t look good for JPMorgan Chase.
The article points to an internal formal report on Madoff that raised suspicions and quotes Bernard Madoff implicating the banks complicity in the fraud:
The question over what the banks knew was rekindled Wednesday when Mr. Madoff, in an interview with the New York Times, asserted that banks and hedge funds, which he declined to name, “were complicit” in his fraud.
“They had to know,” he said.
Bad bad Chase, Lawsuits | admin February 17, 2011
