JPMorgan to pay $1.7B in Madoff case

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Tuesday, January 07, 2014

USA Today: JPMorgan Chase must pay $1.7 billion to settle criminal charges from the Bernard Madoff case.

The bulk of the expected financial settlement is expected to go toward helping repay the thousands of ordinary investors, celebrities, charities and others burned by the $17.3 billion fraud. Only about $11.9 billion of that total has been recovered to date.

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