Madoff ex-clients file $19 billion suit against JPMorgan

[Dover]

Source: Reuters

(Reuters) - Former customers of Bernard Madoff's massive Ponzi scheme filed a class action lawsuit on Monday seeking to recover $19 billion from JPMorgan Chase & Co, claiming the bank willfully ignored signs of fraud.

JPMorgan was Madoff's bank for two decades. The lawsuit, filed in federal court in Manhattan, claims the bank was "thoroughly complicit" in concealing Madoff's fraud.

The lawsuit comes less than a week after a federal judge threw out a similar suit from Irving Picard, the trustee seeking money for Madoff's victims, ruling that he did not have standing to seek money from the bank. Instead, U.S. District Court Judge Colleen McMahon ruled, only victims of the scheme can pursue such claims, leading to Monday's lawsuit.



Read more: http://www.reuters.com/article/2011/11/08/us-madoff-lawsuit-idUSTRE7A704Q20111108

[elleng]

1. BIG SMILE HERE!

:D

[dixiegrrrrl]

13. Heee Heeee Heeeeee.....me, too.

:evilgrin: :evilgrin:

[freshwest]

14. LOL

[DeSwiss]

2. K&R

http://www.youtube.com/watch?v=g6bUUmelbyw">It All Goes Back In The Box

[kestrel91316]

3. I have my personal checking with them, but I never keep any money to speak of in it.

Just pay the rent and a couple bills with it. How they get their clock cleaned.

[russspeakeasy]

4. Just remember, JPMorgan is too big to fail, so if $19 billion

even weakens them a bit, this white house will bail them out and the rethugs will demand that cuts come from; education, health care for vets, etc.etc.

[tabatha]

5. I doubt it.

[russspeakeasy]

9. What do you doubt ?

[tabatha]

10. Any more bailouts.

[russspeakeasy]

11. Good point.

[sarcasmo]

6. Kick!

[MarkCharles]

7. I hope they get DOUBLE that amount awarded. "pain and suffering" n/t

[dipsydoodle]

8. ditto

.

[LuckyLib]

12. Bernie was stashing personal assets somewhere, and they were looking the other way.

The rest of us? The IRS is on us like white on rice.

[meow2u3]

15. Kick and recommend for clients standing up to the banksters

:kick: