Treasury tried to probe JPM over Madoff, could not enforce subpoena: counsel

The U.S. Treasury Department’s Office of the Inspector General tried to examine whether JPMorgan Chase & Co (JPM) interfered with its regulator’s oversight duties, according to a statement on Monday from the counsel to the inspector general, but the office failed to win permission to subpoena the bank. Rich Delmar, counsel to the inspector general, said his office wanted to look into whether JPMorgan had hindered the Office of the Comptroller of the Currency in its attempts to probe JPMorgan’s banking relationship with convicted Ponzi scheme operator Bernard Madoff. “Mr. Madoff did reach out to the Treasury OIG, with information about his banking relations with JPMorgan,” Delmar said in an email to Reuters.


Leave a Reply

Your email address will not be published.