A newly unsealed complaint alleges JPMorgan executives suspected Bernie Madoff was a fraud long before he was exposed-yet did nothing. Allan Dodds Frank on how far the fallout could reach.
How much did JPMorgan CEO and Chairman Jamie Dimon know about his bank's valued customer Bernie Madoff, and when did he know it?
Related story on The Daily Beast: The Minuteman Vigilante's Arizona Murder Trial
These two crucial questions have been lingering below the surface for more than two years, even as the JPMorgan Chase leader cemented his reputation as the nation's most important, most upright, and most highly regarded banker.
Madoff was arrested on December 11, 2008 in the greatest Ponzi scheme on record, it was clear that Dimon, the leader of the bank where Bernie kept much of the money he stole, was going to have to answer some hard questions. That became doubly apparent when early news reports suggested...
How much did JPMorgan CEO and Chairman Jamie Dimon know about his bank's valued customer Bernie Madoff, and when did he know it?
Related story on The Daily Beast: The Minuteman Vigilante's Arizona Murder Trial
These two crucial questions have been lingering below the surface for more than two years, even as the JPMorgan Chase leader cemented his reputation as the nation's most important, most upright, and most highly regarded banker.
Madoff was arrested on December 11, 2008 in the greatest Ponzi scheme on record, it was clear that Dimon, the leader of the bank where Bernie kept much of the money he stole, was going to have to answer some hard questions. That became doubly apparent when early news reports suggested...
- 2/4/2011
- by Allan Dodds Frank
- The Daily Beast
Days after the suicide of Mark Madoff, on the second anniversary of his father's arrest, the screws are tightening on Bernie's surviving son Andrew-and Mark's estate. Allan Dodds Frank on the Ponzi case's latest twists.
In the criminal and civil investigations of the biggest Ponzi scheme ever, the searchlights never blink. And now, more than ever, Andrew Madoff, the 44-year-old younger brother of Mark Madoff, who killed himself on Saturday, will be a key focus.
Related story on The Daily Beast: The Bernie Madoff of Beverly Hills
One look at the bankruptcy trustee's complaint against the Madoff brothers makes it clear that from a legal point of view, they might as well be twins. No doubt prosecutors from the U.S. Attorney's Office in Manhattan have been seeing the duo as one, and possible joint co-defendants, since the brothers turned in their father, Bernie, to the FBI on Dec. 10, 2008, and...
In the criminal and civil investigations of the biggest Ponzi scheme ever, the searchlights never blink. And now, more than ever, Andrew Madoff, the 44-year-old younger brother of Mark Madoff, who killed himself on Saturday, will be a key focus.
Related story on The Daily Beast: The Bernie Madoff of Beverly Hills
One look at the bankruptcy trustee's complaint against the Madoff brothers makes it clear that from a legal point of view, they might as well be twins. No doubt prosecutors from the U.S. Attorney's Office in Manhattan have been seeing the duo as one, and possible joint co-defendants, since the brothers turned in their father, Bernie, to the FBI on Dec. 10, 2008, and...
- 12/13/2010
- by Allan Dodds Frank
- The Daily Beast
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