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As JPMorgan Settlement Reportedly Wraps Up, Madoff’s Victims Wait in the Wings
By Brian Monroe
printJPMorgan Chase's expected $2 billion outlay to settle charges that it failed to stop the largest-known Ponzi scheme will be pored over by at least one group not inside the financial sector: Bernie Madoff's victims. Federal authorities and the bank are nearing the completion of a deferred prosecution agreement (DPA) and multiple regulatory enforcement actions that will penalize the financial institution for maintaining accounts for Madoff and his hedge fund, The New York Times reported Wednesday, citing unnamed individuals who had reviewed the settlement. The DPA, which is expected to come by the end of the year and exact roughly...
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