JPMorgan On Brink Of $2 Billion Deal Over Madoff Case

JPMorgan Chase & Co. (NYSE:JPM) plans to reach this week about $2 billion in criminal and civil settlements with federal authorities over Madoff case. The settlement relates to the federal authorities suspecting JPMorgan Chase & Co. (NYSE:JPM) ignored signs of Bernard L. Madoff’s Ponzi scheme. JPMorgan’s Madoff settlements Citing people familiar with the case, Jessica Silver-Greenberg and Ben Protess of Dealbook point out JPMorgan Chase & Co. (NYSE:JPM)’s Madoff settlements would also involve a so-called deferred prosecution agreement, a legal action that would essentially suspend an indictment as long as JPMorgan acknowledged the facts of the government’s case and changed its…