Ropes & Gray Attorneys Examine JPMorgan’s Post-Madoff Settlement with U.S. Government
In the Bloomberg BNA White Collar Crime Report published on Feb. 17, securities & shareholder litigation associates Nick Berg and Timothy Farrell examine the $2.6 billion settlement between the U.S. government and JPMorgan Chase & Co. and the allegations in the government’s deferred prosecution agreement with the bank. The article, “A New Anti-Money Laundering Enforcement Paradigm: Questions & Lessons From JPMorgan’s Deferred Prosecution,” notes the government’s escalating use of U.S. anti-money laundering statutes against financial services companies, rather than merely as a “hook” against criminals seeking to conceal the proceeds of their crime. The authors raise a number of issues and questions stemming from the government’s aggressive posture in the JPMorgan case and in the allegations amassed in the deferred prosecution agreement.
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