Trustee for Madoff’s Investors Files Complaint Against JPMorgan

Irving Picard, the trustee for Madoff’s investors, filed a $6.4 billion complaint against JPMorgan Chase in December. Picard claims that the bank’s executives were warned that Madoff was running Ponzi scheme yet failed to report it. JPMorgan denies the allegations.

Both parties agreed to make edited versions of their pleadings public. Click here to view the complaint.

See JPMorgan Execs Were Warned About Madoff: Trustee, Reuters, Feb. 3, 2011.

Special thanks to David S. Luber (Attorney at law, Florida Probate Attorney Wills and Estates Law Firm) for bringing this article to my attention.