Reginal Thomas
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JP Morgan Might Have To Pay A Fine For Their Involvement In The Bernie Madoff Ponzi Scheme



JP Morgan Chase in is talk with federal prosecutors in New York over allegations that the bank helped Bernard Madoff run his ponzi scheme. The investigation is headed by Manhattan U.S. Attorney Preet Bharara and focuses on how the bank handled on funds that were controlled by Madoff and if they turned a blind eye to his multibillion dollar Ponzi scheme. There is a chance this can all go away with a deferred prosecution agreement where the government agrees not to pursue prosecution and dismiss the charges if the company improves in its programs or complies with the law. This could all turn out to be just another fine for the U.S. largest bank to go along with the $13 billion fine they have to pay to the Justice Department to settle both state and federal civil investigations ties to the housing crash in 2008.