JPMorgan Madoff Settlements Approved

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.

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    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…