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Madoff Investor Lawsuit Could Lead to Regulatory Scrutiny for JPMorgan Chase
By Brian Monroe
printA lawsuit against JPMorgan Chase by a Florida investment firm that lost $12.8 million to convicted hedge fund manager Bernard Madoff could mean more regulatory scrutiny for the bank. MLSMK Investments Co. filed a civil complaint Thursday in a Manhattan district court against the New York-based bank for allegedly maintaining accounts and services with Madoff after Chase investigators discerned that he was running a fraudulent business. Madoff plead guilty in March to running a scam from 2002 to December 2008 that bilked investors of $65 billion. By September 2008, following a due diligence investigation of its own, Chase knew "unequivocally"...
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