Thank you for sharing!

Your article was successfully shared with the contacts you provided.

A federal judge has dismissed a RICO suit against JPMorgan Chase brought by one of Bernard M. Madoff’s investors. MLSMK Investments, represented by Wachtel & Masyr, alleged that JPMorgan became aware of Madoff’s fraud in the summer of 2008 but continued to manage his Chase account and conduct trades with him. MLSMK, which lost $12.8 million deposited in Madoff’s Chase account, claimed that JPMorgan continued to work with Madoff because it earned commissions and fees from his Ponzi scheme. Along with the RICO claim, MLSMK alleged aiding and abetting, breach of fiduciary duty, commercial bad faith, and two counts of negligence.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.