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Thursday, February 20, 2014

Madoff Said JPMorgan Execs Knew About Ponzi Scheme: Lawsuit

By Jonathan Stempel


NEW YORK (Reuters) - Two senior officials at JPMorgan Chase & Co and predecessor companies repeatedly confronted Bernard Madoff over irregularities in his business, a new lawsuit said, suggesting that bank leaders had "direct knowledge" of his Ponzi scheme.


The lawsuit filed in federal court in Manhattan on Wednesday on behalf of shareholders against Chief Executive Jamie Dimon and 12 other current and former executives and directors was based in part by statements made by Madoff himself during a series of interviews.




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