JPMorgan Pays $1.7 Billion to Madoff Victims - Presented by: The Aol. On Network

JP Morgan Chase is shelling out $1.7 billion to put to rest charges it failed to adequately report suspicious activity in the Bernie Madoff fraud. By law, the bank is supposed to monitor customer activity for money laundering and inform regulators. JPMorgan Chase admits it did not do the latter, even though bankers in more than one area noticed things weren't adding up when it came to Madoff's finances.



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