• LAW
  • FEBRUARY 17, 2011

What J.P. Morgan Knew About Madoff Fraud

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BY DAN FITZPATRICK

J.P. Morgan Chase & Co. Chief Executive James Dimon wasn't informed about a formal report that raised suspicions about Bernard Madoff prior to Madoff's arrest. But he did know about the bank's 2008 decision to pull money from many hedge funds, some of which turned out to be Madoff-related, according to people familiar with the Madoff case.

It wasn't until after Mr. Madoff's December 2008 arrest that the CEO was given a full accounting of the firm's exposure and told that some of the funds had ties to Mr. Madoff, these people added.

What J.P. Morgan executives knew about Madoff ...

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