As Ponzi-master Bernie Madoff repeats jailhouse acquisitions that senior JPMorgan Chase & Co. (NYSE:JPM) officials “had direct knowledge” of his fraud, a theft from investors now estimated at $17.3 billion, a lawsuit filed in Manhattan yesterday pointed the finger directly at the bank’s teflon Chief Executive Jamie Dimon and 12 additional current and former JPMorgan directors and employees. Bank “uniquely positioned” to see crimes As Madoff’s bank and prime broker, “JPMorgan was uniquely positioned for 20 years to see Madoff’s crimes and put a stop to them,” the lawsuit said, reiterating what is a growing question. The banking and prime…
Teflon JPMorgan Faces Another Lawsuit As Madoff Talks
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.