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January 2, 2014

JPMorgan Doesn’t Want to Talk About Bernie Madoff

Bernard Madoff’s principal bank, JPMorgan Chase, has for years obstructed federal bank examiners trying to ascertain what it knew about his gigantic Ponzi scheme, an official document obtained by Newsweek shows.

The Justice Department refused in September to back up Treasury inspector general staff who wanted a  court order to enforce a subpoena, in effect shielding JPMorgan from law enforcement, the October 8 document shows.

The Justice Department told the Treasury Inspector General ‘that they were denying the request for enforcement of the subpoena,’ which means officials ‘could not undertake further actions regarding this matter,’ wrote Jason J. Metrick, the inspector general special-agent-in-charge.”

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Read full Newsweek article here

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