Trustee in Madoff Case Sues JP Morgan Chase
The Bankruptcy Trustee in the Bernie Madoff saga has filed a lawsuit against JP Morgan Chase for $6.4 billion dollars. The Trustee believes JP had involvement in Madoff's scheme of defrauding investors. The suit was filed in a New York Bankruptcy Court.
The lawsuit seeks to recover over $1 billion in profits and fees and over $5 billion in damages. If the Trustee is able to recover adequate damages, disgruntled Madoff investors may be able to receive some of the funds they lost in investing with Madoff.
The Trustee alleges JP Morgan should have known not to accept fees and profits because it was aware or should have been aware of suspicious activity by Madoff.
To learn more about this article, visit Madoff trustee sues JPMorgan, others for $6.4B.
To find out more about how to protect yourself from predatory investments and what rights you have as a victim of such schemes, please contact Wood, Atter & Wolf, P.A., a Jacksonville, Florida law firm.
