Madoff Investor’s RICO Suit Against JPMorgan Chase Dismissed
July 19th, 2010
A federal judge has dismissed a RICO suit against JPMorgan Chase brought by one of Bernard Madoff’s investors. MLSMK Investments, which lost $12.8 million deposited in Madoff’s Chase account, claimed that JPMorgan became aware of Madoff’s fraud in the summer of 2008 but continued to work with Madoff because it earned commissions and fees from his Ponzi scheme. But Southern District of New York Judge Barbara S.
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Madoff Investor’s RICO Suit Against JPMorgan Chase Dismissed