Teflon JPMorgan Faces Another Lawsuit As Madoff Talks

As Ponzi-master Bernie Madoff repeats jailhouse acquisitions that senior JPMorgan Chase & Co. (NYSE:JPM) officials “had direct knowledge” of his fraud, a theft from investors now estimated at $17.3 billion, a lawsuit filed in Manhattan yesterday pointed the finger directly at the bank’s teflon Chief Executive Jamie Dimon and 12 additional current and former JPMorgan directors and employees.

Bank “uniquely positioned” to see crimes

As Madoff's bank and prime broker, "JPMorgan was uniquely positioned for 20 years to see Madoff's crimes and put a stop to them," the lawsuit said, reiterating what is a growing question.

The banking and prime brokerage...