Jan. 7 (Bloomberg) -- U.S. Attorney Preet Bharara speaks about JPMorgan Chase & Co.'s agreement to pay $1.7 billion to settle claims that it facilitated Bernard Madoff’s Ponzi scheme, the largest in U.S. history.
The biggest bank in the U.S. by assets entered into a deferred-prosecution agreement with Bharara, acknowledging oversight lapses related to an account Madoff used to fund his multibillion-dollar fraud. The Federal Bureau of Investigation's George Venizelos and Treasury Department's Jennifer Shasky Calvery also speak. They speak at a news conference in Manhattan. (Source: Bloomberg)