JPMorgan expected to pay a $2 billion settlement in Madoff case
JPMorgan Chase is reportedly close to reaching a $2 billion settlement with federal prosecutors over Bernard Madoff's ponzi scheme.
The New York Times and the Wall Street Journal report the deal is expected to come this week.
Federal prosecutors have accused JPMorgan of ignoring red flags about Madoff's crimes, and allegedly turning a blind eye to the largest ponzi scheme in history.
Madoff swindled about $20 billion from thousands of investors who thought he was operating a legitimate Wall Street firm.
He's serving a 150-year prison sentence after pleading guilty to 11 counts, including fraud.
Some funds from the $2 billion settlement would reportedly be used to compensate
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