JPMorgan (JPM) executives were concerned that Bernard Madoff was running a Ponzi scheme, but they silently stood by for years to protect the bank’s investments, the trustee for Madoff’s investors said. Irving Picard made the accusation on Thursday in connection with his unsealing of his $6.4 billion complaint against the bank, which was originally filed in December with federal bankruptcy court in Manhattan. – Reuters
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!