Description: JPMorgan Chase & Co will pay more than $2 billion of penalties to settle charges by U.S. federal authorities that it failed to report suspicious activity involving Bernard Madoff’s Ponzi scheme.
Source: Reuters.com
Date: Jan 07, 2014
Link: http://in.reuters.com/article/2014/01/07/jpmorgan-madoff-deal-idINL2N0KH0ZP20140107
Questions for Discussions:
- Summarize the illegal behaviors for which the bank is being fined.
- Why do you think these actions went unreported?
- Do you believe the fine suffices or should individuals have gone in jail?
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