#1 in Financial Fraud Law: US Attorney Preet Bharara

When we here at the Financial Fraud Law Blog think about financial fraud law, it does not take long before we think about the U.S. Attorney for the Southern District of New York, Preet Bharara. In a little over four years as U.S. Attorney – following his unanimous confirmation by the Senate –...

4 Keys to JPMorgan’s Expected Madoff Deal

Here are the four key elements of JPMorgan Chase’s likely settlement with federal prosecutors over charges against the bank relating to the Bernard Madoff Ponzi scheme: The bank will pay $2 billion to settle civil charges and criminal charges under the Bank Secrecy Act; A portion –...

JPMorgan Admits Violation of the Bank Secrecy Act for Failed Madoff Oversight

J.P.Morgan Chase Bank, N.A., has admitted that it willfully violated the Bank Secrecy Act (BSA) by failing to report suspicious transactions arising out of Bernard Madoff’s decades-long, multi-billion dollar fraudulent Ponzi scheme. The bank now has been fined $461 million by the Financial Crimes...

Madoff Victims Get More Time to File Claims with Fed’s Madoff Victim Fund

The deadline for filing claims with the federal Madoff Victim Fund (the “MVF”) has been extended to April 30, 2014. This extension was recommended by Special Master Richard C. Breeden, who is administering the MVF on behalf of the Department of Justice. To date, the MVF has received approximately...