The Conversation

JP Morgan must bear the cost of its blind eye on Madoff

Author: Australian Business

The shadow of convicted fraudster and stockbroker Bernie Madoff continues to hang over Wall Street.

As part of a deferred prosecution agreement, investment bank JP Morgan Chase agreed on Tuesday to pay US$1.7 billion in penalties for its role in the Madoff debacle.

JP Morgan Chase will also pay US$350 million to the Office of the Comptroller of the...

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