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Bernard Madoff arrives at Manhattan federal court, Thursday, March 12, 2009. Louis Lanzano/AP/Press Association Images

JPMorgan Chase to pay $1.7 billion to victims of Madoff Ponzi fraud

The compensation was announced by a US attorney today.

US BANKING GIANT JPMorgan Chase will pay $1.7 billion to the victims of Bernard Madoff’s Ponzi scheme under an agreement with prosecutors, a US Attorney announced today.

JPMorgan admitted to charges that it failed to maintain an effective money-laundering programme and did not file a suspicious activity report on Madoff, said Preet Bharara, US Attorney for the Southern District of New York.

- © AFP, 2014

Related: Brother of Bernie Madoff gets 10 years for role in Ponzi scheme

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    Mute Shane Hickey
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    Jun 2nd 2017, 6:01 PM

    my uncle Danny worked at Colbert Station in 1911… that is all i have to say today

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    Mute Crocodylus Pontifex
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    Jun 2nd 2017, 6:41 PM

    @Shane Hickey: it was only named after Colbert in 1966

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    Mute emeraldninja
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    Jun 2nd 2017, 7:59 PM

    Should try replacing limerick junction while they’re about it…. Clatterf**k central.

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    Mute Stephen
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    Jun 2nd 2017, 11:43 PM

    Any plan to electrify the line from Dublin to cork, Galway and limerick. Last time I checked it was the 21st Century. Not asking for high speed rail just linking our capital with the same power system as say the rest of Europe since after WW2

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    Mute Niall Ó Cofaigh
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    Jun 2nd 2017, 10:23 PM

    hope no exam students were planning on using the train – but I suppose there is never a good time to close and upgrade lines

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