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If JP Morgan Chase was a person, it would be in prison for life and considered the most notorious financial criminal the world has ever known. $13B settlement
by jjeaff 4y ago
If JP Morgan Chase was a person, it would be in prison for life and considered the most notorious financial criminal the world has ever known.
$13B settlement for fraud related to sub-prime mortgages
https://www.google.com/amp/s/www.southflalaw.com/amp/jp-morgan-chase-settles-with-justice-department-for-13-billion.html https://www.google.com/amp/s/www.southflalaw.com/amp/jp-morg...
JP Morgan to pay $920 million in settlement over precious metals market manipulation fraud.
https://www.justice.gov/opa/pr/jpmorgan-chase-co-agrees-pay-920-million-connection-schemes-defraud-precious-metals-and-us https://www.justice.gov/opa/pr/jpmorgan-chase-co-agrees-pay-...
JP Morgan pays $614 million settlement over mortgage fraud
https://www.whistleblowerllc.com/false-claims-act-whistleblower-helps-government-reach-614-million-settlement-with-jpmorgan-in-yet-another-mortgage-fraud-case/ https://www.whistleblowerllc.com/false-claims-act-whistleblo...
JP Morgan $2.2B settlement for helping facilitate Enron fraud.
https://www.rgrdlaw.com/news-item-JPMorgan-Enron-Settlement-UC-061405.html https://www.rgrdlaw.com/news-item-JPMorgan-Enron-Settlement-...
France fines JP Morgan $30m in tax fraud scheme.
https://www.reuters.com/business/france-fines-us-bank-jp-morgan-296-mln-tax-fraud-settlement-2021-09-02/ https://www.reuters.com/business/france-fines-us-bank-jp-mor...
JP Morgan to pay $154m for defrauding investors with mortgage backed cdo products
https://www.sec.gov/news/press/2011/2011-131.htm https://www.sec.gov/news/press/2011/2011-131.htm
$153m fine for recommending investment vehicles that the bank was secretly betting against
$56m settlement for evicting guiltless people from their homes.
$229m settlement for ruse to rig municipal bond market in 30 states
$88m fine for doing business with Iran, Liberia, Sudán, and other embargoed countries.
$5B fine for faulty foreclosure processing
$100m fine for check sequencing to cheat customers by charging overdraft fees
https://www.google.com/amp/s/www.southflalaw.com/amp/jp-morgan-chase-settles-with-justice-department-for-13-billion.html https://www.google.com/amp/s/www.southflalaw.com/amp/jp-morg...
- salawat 4y agoThink about what this means for a second. JPMorgan, by being deemed "too big to fail" is basically so large as to be immune to overall regulation, as any enacted fine of sufficient magnitude to make a punitive difference would jeopardize it's load bearing in the global financial system. If I can't toss you out without slitting my own throat, you don't have a problem, I do.