Bernie Madoff once told a reporter from his prison cell in North Carolina that JPMorgan “doesn’t have a chance in hell” of avoiding liability in connection with his 20-year Ponzi scheme. After all, JPM served as Bernie’s principal banker from 1986 on and enabled him to launder the $17.3 billion he swindled from thousands of […]

In this latest post-2008 banking crisis case, JP Morgan Chase Bank has been ordered to pay $1.7 billion in compensation to Madoff victims as part of a US Deferred Prosecution Agreement (DPA) entered into with the US Department of Justice. To look on the bright side of this case for a moment, the reaction of […]