Friday, 9 October 2015
Last updated 6 hours ago
Feb 5 2014 | 8:28am ET
JPMorgan Chase's settlements with Bernard Madoff's victims and the court-appointed trustee recovering money for them has been approved.
U.S. Bankruptcy Judge Stuart Bernstein signed off on the $543 million pact, part of the bank's $2.7 billion deferred-prosecution agreement with the U.S. Justice Department. The deal, struck last month, will see $325 million go to Irving Picard, the trustee, and $218 million to settle class-action lawsuits.
JPMorgan struck the agreement to avoid criminal prosecution for failing to notify U.S. authorities of its concerns about Madoff. The firm served as Madoff's primary banker for decades.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…