JPMorgan to pay $2 mln to settle SEC fraud case
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WASHINGTON (Reuters) - JPMorgan Chase & Co. (JPM.N: Quote, Profile, Research) has expressed its readiness to pay $ 2 million for the costs of its subsidiaries contributed to the bankruptcy National Century Financial Enterprises, which he led to a $ 2.6 billion fraud losses by the investor, the US Securities and Exchange Commission, said Thursday. The SEC said JPMorgan Chase Bank and Bank One as an agent of the national debt century, Dublin, Ohio, health, finance, from 1999 to 2002, when the company collapsed. The SEC said that JPMorgan assisted National Century is a great bad program transfers between accounts, deficits cause safeguards and has contributed to the demise of the company. JPMorgan, without the authorization or denial of the charge. A spokesman for JPMorgan confirms that urbanization has gone, but for more details. The SEC said JPMorgan would pay $ 1.3 million in disgorgement and more than 700000 dollars in prejudgment interest to cover the costs. Wednesday, the U.S. Department of Justice, said a federal jury in the Ohio National condemns century of the former Chief Executive Lance Poulsen handling of the criminal proceedings a witness in the case of fraud. The witness was free manipulation in connection with a key witness, it was expected, as witnesses in the trial against Poulsen, and other leaders for alleged fraud of $ 2 billion from the National century. The Department of Justice said Poulsen would be tempted to fraud to the detriment of August. Earlier this month, five other national leaders century were found guilty, Ränke to mislead investors and rating agencies the financial health of the company. |