Stories
Slash Boxes
Comments

SoylentNews is people

JPMorgan Chase to pay ~$264 Million in Settlement

posted by cmn32480 on Friday November 18 2016, @05:17PM   Printer-friendly
from the #drainwallstreet dept.

butthurt writes:

Bloomberg reports that a settlement has been reached after the U.S. Department of Justice investigated indications that

[...] JPMorgan employees at the bank's Hong Kong subsidiary sought to maximize profits by providing jobs and internships to children of individuals it hoped to do business with.

The settlement provides that the bank will pay around $264 million, and that the investigation will be ended with no prosecution.

"[A]t least five other" undisclosed banks are under investigation for possible violations of the Foreign Corrupt Practices Act.

Original Submission

 
This discussion has been archived. No new comments can be posted.
JPMorgan Chase to pay ~$264 Million in Settlement | Log In/Create an Account | Top | 25 comments | Search Discussion
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.

  • (Score: 2, Interesting) by mechanicjay on Friday November 18 2016, @07:10PM

    by mechanicjay (7) <reversethis-{gro ... a} {yajcinahcem}> on Friday November 18 2016, @07:10PM (#429023) Homepage Journal

    And people really wonder why the "Drain the Swamp" rhetoric was so effective? I think a few high profile prosecutions of the global and financial elite who break laws would do a lot of good for the mood of the country.

    Q: Who is the only high-profile banker to go to jail for defrauding people in the 2008 crash?
    A: Bernie Madoff.
    Q: Why?
    A: Because while all the elites were defrauding the common man out his home and property, Madoff was defrauding the elites.

    Conclusion: Maybe be more Bernie Madoffs running around.

    --
    My VMS box beat up your Windows box.
    Starting Score:    1  point
    Moderation   +1  
       Interesting=1, Total=1
    Extra 'Interesting' Modifier   0  
    Total Score:   2  

  • (Score: 2, Informative) by Anonymous Coward on Friday November 18 2016, @07:24PM

    by Anonymous Coward on Friday November 18 2016, @07:24PM (#429038)

    > And people really wonder why the "Drain the Swamp" rhetoric was so effective?

    Nobody wonders that.
    What they wonder is why anybody believed it coming from a billionaire who was a egregious beneficiary of the swamp for his entire life.

    • (Score: 0) by Anonymous Coward on Friday November 18 2016, @10:42PM

      by Anonymous Coward on Friday November 18 2016, @10:42PM (#429157)

      Because you fools wouldn't vote for anyone who wasn't either that billionaire OR the millionaire who has been desperately pandering to the swamp so that she could become that billionaire herself.