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JPMorgan has begun legal proceedings against customers who allegedly stole hundreds of thousands of dollars during a technical malfunction in the bank's ATM systems.. The so-called "infinite money ...
JPMorgan seeks the return of the stolen funds with interest and overdraft fees, plus lawyers' fees. In some cases, it is also seeking punitive damages, according to the complaints. Meet the U.S ...
Chase merged with JPMorgan to form JPMorgan Chase in 2000, and Madoff retained his account there until his 2008 arrest. On April 23, 2009, JPMorgan Chase was served with a complaint from MLSMK [117] Investment Company, a Palm Beach, Florida partnership that directly deposited $12.8 million into Madoff's account between October and early ...
Every year, more and more people fall prey to scams. Data from the Federal Trade Commission shows that in 2021, consumers reported losing more than $5.8 billion to fraud. That's a 70% increase from...
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The term "money laundering" dates back to the days of Al Capone; money laundering has since been used to describe any scheme by which the true origin of funds is hidden or concealed. Money laundering is the process by which large amounts of illegally obtained money (from drug trafficking, terrorist activity or other serious crimes) is given the ...
The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008. [1] In December of that year, Bernie Madoff, the former Nasdaq chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate multi-billion-dollar Ponzi scheme.
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