An investor protection body has joined the legal battle asking the Supreme Court to decide whether JPMorgan Chase and other banks should pay for failing to take more aggressive action against Bernard Madoff’s multi-billion dollar fraud scheme. The Securities Investor Protection Corporation argued in a Nov. 8 filing that the trustee appointed to recover money on behalf of victimized Madoff investors should be authorized to seek funds from JPMorgan, Swiss banking giant UBS, global bank HSBC and other financial institutions. More on USA Today here.
