JPMorgan Chase will pay more than $2.5 billion failing to detect, report Madoff fraud

  • by: LARRY NEUMEISTER , Associated Press
  • Updated: January 7, 2014 - 3:55 PM

NEW YORK — JPMorgan Chase & Co., already beset by costly legal woes, will pay more than $2.5 billion for ignoring obvious warning signs of Bernard Madoff's massive Ponzi scheme, authorities said Tuesday.

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