Friday, 27 March 2015
Last updated 2 hours ago
Apr 1 2013 | 9:38am ET
Federal authorities are looking into whether JPMorgan Chase, Bernard Madoff's chief bank, failed to report the archfraudster's suspicious activities prior to the collapse of his $65 billion Ponzi scheme.
The U.S. Attorney's Office in Manhattan and the U.S. Office of the Comptroller of the Currency believe that JPMorgan may have violated a federal law requiring disclosure of suspicious transactions, The New York Times reports. The probe is looking into allegations similar to those made three years ago by Madoff trustee Irving Picard, who sued JPMorgan for $21 billion.
Picard's suit was dismissed, with a federal judge ruling he did not have standing to sue the bank.
"We believe that the personnel who dealt with the Madoff issue acted in good faith in seeking to comply with all anti-money-laundering and regulatory obligations," JPMorgan spokesman Joe Evangelisti told the Times.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…