Daily News: December 16, 2013

JPMorgan Said to Face Fine in Madoff Probe

The New York Times reported that JPMorgan Chase may pay about $2 billion to resolve probes into whether the bank ignored signs of Bernard Madoff’s Ponzi scheme.

The Times said the firm is close to a deal that includes a deferred prosecution agreement and more than $1 billion in penalties to resolve a criminal case, with remaining sanctions imposed by federal regulators investigating gaps in the company’s money-laundering safeguards.

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