A new federal bankruptcy court filing on Thursday showed that three current members of JPMorgan Chase’s executive committee had discussed, as early as June 2007, the possibility that Bernard L. Madoff was running a Ponzi scheme — as, indeed, he was — but took no action to protect investors or alert regulators.
Those executives are John J. Hogan, the bank’s chief risk officer for investment banking; Matthew E. Zames, who oversees several important bank trading operations; and Carlos M. Hernandez, the head of global equities at the bank’s investment banking unit.
The identity of those executives is the latest bit of news produced by the bitter courthouse fight between the global banking giant and Irving H. Picard, the bankruptcy trustee gathering assets for victims of Mr. Madoff’s fraud, which wiped out investor accounts valued at almost $65 billion when it collapsed in December 2008.
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Read the latest complaint. Click here.
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