Benfiquista ponzy scheme fraudster
O artigo da BBC em Inglês é bem explícito sobre sobre o falhanço da fiscalização das empresas cotadas na Wall Street e em mais Streets.
Como foi possívem ninguém ter visto que o Ponzy Schemer Madoff não era mais do que a Banca da dona Branca? Cotada em Wall Street!!
O velho Madoff está sumprindo 150 anos pildra! Terão de construir um mausoléu na célula.
O velho Madoff está sumprindo 150 anos pildra! Terão de construir um mausoléu na célula.
7 January 2014
Last updated at 15:25
JP Morgan to pay $1.7bn to victims of the Madoff fraud
Bernard Madoff is serving a 150-year prison sentence
JP
Morgan Chase has agreed to pay $1.7bn (£1bn) to victims of the Bernard
Madoff fraud following a settlement with US prosecutors.
The settlement comes after Federal prosecutors accused the bank of ignoring red flags about Madoff's crimes.
"We recognize we could have done a better job," said JP Morgan spokesperson Jennifer Zuccarelli.
The bank has agreed to improve its controls as part of the settlement.
No jail
While JP Morgan acknowledged failures in its protections
against money laundering, the settlement includes a so-called deferred
prosecution agreement that allows it to avoid criminal charges.
No individual executives were accused of wrongdoing.
JP Morgan was Madoff's primary bank in the later years of a fraud that lasted for decades.
JP Morgan Chase & Co.
Last Updated at 07 Jan 2014, 17:03 *Chart shows local time| price | change | % |
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| 58.19 | -
-0.81
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-1.37
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The bank had a relationship with Madoff dating back to 1986, according to documents released by the US Attorney's office.
It ended in 2008 when Madoff revealed to the FBI that his investment advisory business was a Ponzi scheme.
According to the complaint, Madoff's account - account 703 -
received deposits and transfers totalling $150bn over the period from
1986 until the fraud was discovered in 2008, almost exclusively from
Madoff Securities.
JP Morgan employees began raising red flags about the account
from the late 1990s up until 2008, but no action was taken to alert US
regulators.
The 75-year-old Madoff pleaded guilty to the fraud and is currently serving a 150-year prison sentence in the US.
Mounting fines
Over the past year, JP Morgan has paid close to $20bn in
settlements with regulators for various violations relating to the US
financial crisis, the so-called "London whale" trading loss, and
manipulating the London inter-bank offered rate, or Libor.
JP Morgan boss Jaime Dimon has taken a proactive stance in
ridding the bank of various investigations into its practices over the
past year.
In his annual letter to shareholders from April 2013, Mr Dimon wrote: "I feel terrible that we let our regulators down".
The bank is still facing scrutiny from US regulators over its hiring policies in China.
Shares in JP Morgan fell slightly on news of the settlement.
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