Whistleblower to Receive $63.9 Million in JPMorgan Mortgage Loan Case

Whistleblower to Receive $63.9 Million in JPMorgan Mortgage Loan Case

 As readers of the Financial Fraud Law Report and the Financial Fraud Law Blog certainly recall, JPMorgan Chase settled a couple of big, big Madoff-related cases some weeks ago, reaching a $2.05 billion settlement with federal prosecutors over its failure to properly exercise oversight of Bernard Madoff and his operations and agreeing to pay about $543 million to settle claims brought by Madoff Trustee Irving Picard.

With those big settlements, some people may not necessarily recall that right around the same time, the bank also settled mortgage loan charges for $614 million.

One person who most certainly does remember that settlement, however, is the whistleblower, Keith Edwards.

That’s because it has just been announced that he will receive $63.9 million as the whistleblower under federal False Claims Act.

Learn more:

-           If You Thought that JPMorgan Chase Was Finished Settling, Think Again. Now, It Pays $614 Million to Resolve More Mortgage Loan Charges

-           A Pretty Good Couple of Days for Madoff Victims, Courtesy of JPMorgan

-           Rachel Abrams, “Whistle-Blower Gets $63.9 Million as a Result of JPMorgan Settlement,” available at http://dealbook.nytimes.com/2014/03/07/whistle-blower-gets-63-9-million-as-a-result-of-jpmorgan-settlement/.

 Contact the author at smeyerow@optonline.net

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