NEW YORK, Dec. 12 (UPI) -- JPMorgan Chase is expected to pay up to $2 billion for failing to alert U.S. authorities about Bernard Madoff, sources told the New York Times.
Madoff, who is serving a 150-year sentence for running a two-decades long Ponzi scheme that lost $17 billion, used JPMorgan as his primary bank while he ran his fraudulent investment firm.