Bernie Madoff's doing 150 years..JP Morgan Chase...Well, you know..

[pscot]

JPMorgan Chase and federal authorities are nearing settlements over the bank’s ties to Bernard L. Madoff, striking tentative deals that would involve roughly $2 billion in penalties and a rare criminal action. The government will use a sizable portion of the money to compensate Mr. Madoff’s victims.

The settlements, which are coming together on the anniversary of Mr. Madoff’s arrest at his Manhattan penthouse five years ago on Wednesday, would fault the bank for turning a blind eye to his huge Ponzi scheme, according to people briefed on the case who were not authorized to speak publicly.

A settlement with federal prosecutors in Manhattan, the people said, would include a so-called deferred-prosecution agreement and more than $1 billion in penalties to resolve the criminal case. The rest of the fines would be imposed by Washington regulators investigating broader gaps in the bank’s money-laundering safeguards.

The agreement to defer prosecution would also list the bank’s criminal violations in a court filing but stop short of an indictment as long as JPMorgan pays the penalties and acknowledges the facts of the government’s case. In the negotiations, the prosecutors discussed the idea of extracting a guilty plea from JPMorgan, the people said, but ultimately chose the steep fine and deferred-prosecution agreement, which could come by the end of the year.
http://dealbook.nytimes.com/2013/12/11/criminal-action-is-expected-for-jpmorgan-in-madoff-case/

[gtar100]

1. Well that's because he robbed from the rich. If he had instead robbed the middle class and poor he

would have gotten a commendation instead of jail time. Like we always say, there are two justice systems; one for the rich and the other for the rest of us. Madoff just happened to do his crime on the rich side so justice was meted out. If everyone who stole the life savings of others were prosecuted, Madoff would have a lot of company. And he should.