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JPMorgan Investigated For Yet Another Billion-Dollar Ripoff: No Worries — Company Will Pay a Settlement (Bribe), Execs Will Get a Bonus



By Kevin McCoy
JPMorgan Chase (JPM) disclosed Monday that the New York-based global bank is in talks with the Department of Justice over a criminal investigation of its foreign exchange business.

Confirming the probe in a quarterly financial filing, the bank also said it was conducting similar talks with enforcement and regulatory authorities conducting civil investigations.

"There is no assurance that such discussions will result in settlements," the bank said.

[...]

The new disclosures came as several major U.S. and overseas banks in recent days reported they are budgeting billions of dollars for potential settlements on charges they manipulated the $5.3-trillion-a-day foreign exchange trading market.

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