Madoff Trustee: Bernie Madoff Had An Accomplice Named JPMorgan

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And it'll take $6 billion, in non-consecutive, unmarked bills to make this allegation go away.

The trustee seeking money for victims of Bernard Madoff's Ponzi scheme sued J.P. Morgan Chase & Co. for more than $6 billion, claiming the bank enabled his multibillion-dollar fraud. "J.P. Morgan was willfully blind to the fraud, even after learning about numerous red flags surrounding Madoff," said David J. Sheehan, a lawyer for Mr. Picard, in a statement. "While many financial institutions enabled Madoff's fraud, [J.P. Morgan Chase] was at the very center of that fraud, and thoroughly complicit in it."

J.P. Morgan said any suggestion it supported Mr. Madoff's fraud is "utterly baseless and demonstrably false."

Madoff Trustee Sues JPMorgan [WSJ]

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