Officials at JPMorgan Chase will not be penalized as part of the expected $2 billion settlement of allegations that the bank turned a blind eye to Bernard Madoff’s infamous Ponzi scheme, The Wall Street Journal reports.
JPMorgan’s deal with the Justice Department, the latest in a series of major payouts to resolve investigations in recent months, is expected to be announced as early as Tuesday, according to the newspaper.
“But all fines will be paid by the company as opposed to individuals,” the WSJ’s Dan Fitzpatrick writes, citing people close to the talks.
Check out the complete Wall Street Journal story here.