Suit Says JPMorgan Chase Broke Its Duty to Clients

JPMorgan Accused of Breaking Its Duty to Clients

By LOUISE STORY

In the summer of 2007, as the first tremors of the coming financial crisis were being felt on Wall Street, top executives of JPMorgan Chase were raising red flags about a troubled investment vehicle called Sigma, which was based in London. But the bank chose not to move out $500 million in client assets that it had put into Sigma two months earlier.

Sigma collapsed a year later. Now, new documents unsealed late last month as part of a lawsuit by bank clients against JPMorgan show for the first time just how high the warnings about Sigma went — all the way to the office of the bank’s chief executive, Jamie Dimon.

While the clients lost nearly all their money, JPMorgan collected nearly $1.9 billion from Sigma’s demise, according to the suit. That’s because as Sigma’s troubles worsened, JPMorgan lent the vehicle billions of dollars and received valuable assets in the form of a security deposit.

Check out the rest here…

~

4closureFraud.org

~

Imperial County Employees Retirement System v JPMorgan Chase Omnibus Brief

Imperial County Employees Retirement System v JPMorgan Chase Exhibits



Comments
3 Responses to “Suit Says JPMorgan Chase Broke Its Duty to Clients”
  1. l vent says:

    The TRUTH must come out about this GIGANTIC CRIME SYNDICATE A/K/A THE BANKSTERS/WALL STREET/ FEDERAL RESERVE BANK. THEY ARE NO MORE THAN A GIGANTIC CRIMINAL ENTERPRISE WEARING AN AMERICAN FACE. THEY ARE NOT AMERICANS. THEY ARE ALL FOREIGN OWNED MULTINATIONAL BANKS AND FOREIGN OWNED MULTINATIONAL CORPORATIONS THAT ARE POSING AS AMERICAN INSTITUTIONS. They are truly DIABOLICAL and are out to destroy the world with their ongoing debt creating PONZI SCHEME/ FEDERAL RESERVE MONEY PRINTING TOOLS OF FINANCIAL DESTRUCTION.

    • RAMONA says:

      1vent , our country is changing so rapidly and Obama said ” OUr country will never be the same”. so have we lost to the global market? have we as AMERICANS lost? Once they take away our freedm of speech, everything will go. with it…every right we have,. to own property, tobear arms, freedom to practice religion . thats what they want a nation of slaves with no incentives togrow , to prosper, to own property or freedom of any kind

      • l vent says:

        Hi Ramona, you are right that is what the tyrants want. There are billions of people here and around the world who refuse to live under a complete Imperialist, Plutocracy which is a fascist dictatorship and a tyranny. Everybody, worldwide HATES that New World Order bullshit except for the aristocrats who are in the NWO. It looks like we are at war with these tyrants not just here in the United States of America but worldwide.They wear a disguise and have been hiding behind the scenes of all of the deception and the evil in the entire world now and throughout history.These tyrants are nothing new. The difference now is they have infiltrated and corrupted almost everything because they are so filthy rich that allowed them to hijack alot of countries including America. This is mainly because of the weakness of many politicians and their greed and the mere fact that the American People did not pay attention enough and were too trusting that Government was looking out for our best interest we are now at war with this not so well hidden evil agenda.. The internet and alternative news sources available other than the mainstream, which they own and control, their propaganda machine is now failing miserably. The secret is out about their evil plans for mankind and they hate that. These tyrants are truly maniacal and diabolical and they do want to micromanage the people and dominate the entire world. I believe with God’s help, the FREE WILL of the people will overcome this tyranny. We have to stay strong,stick together and never, ever give up. They want to wear us down. Even my 20 something year old kids are starting to see what is going on in America and they are not to happy with America and its republican/democratic corrupt machine. When the youth start revolting then they will really have a problem. They do not want these lousy minimum wage jobs either and know they should be in college and realize what these tyrants have stolen from them is their FREEDOM. These young people today are getting more and more disgruntled everyday with these tyrants. They are really asking for it when the youth start revolting against the tyranny and it is coming..

Leave a Reply