Daily News: January 6, 2014

NYT: JPMorgan Nears $2B Deal in a Case Tied to Madoff

The New York Times reported JPMorgan Chase plans to reach roughly $2 billion in criminal / civil settlements with federal authorities who suspect it ignored signs of Bernard L. Madoff’s Ponzi scheme, according to people briefed on the case.

The Times said further JPMorgan’s Madoff settlements, according to people briefed on the case, would also involve a so-called deferred prosecution agreement that would suspend an indictment as long as JPMorgan acknowledged the facts of the government’s case and changed its behavior.

Previously on abfjournal: JPMorgan Said to Face Fine in Madoff Probe, December 16, 2013

To read the entire New York Times article, click here.