Daily News: December 12, 2013

NYT: Criminal Action Expected for JPMorgan in Madoff Case

New York Times reported that JPMorgan Chase and federal authorities are nearing settlements over the bank’s ties to Bernard L. Madoff, striking tentative deals that would involve about $2 billion in penalties and criminal action.

The government will use a large portion of the money to compensate Madoff’s victims, New York Times said further.

To read the New York Times article, click here.