JP Morgan Chase to Pay $1.7 Billion in Madoff Case

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It's been five years since Bernard Madoff was arrested for running one of the largest Ponzi schemes in US history. Now his primary bank is finally facing its own punishment, of sorts. JP Morgan Chase will pay a $1.7 billion fine to settle criminal charges by federal prosecutors that it failed to alert authorities of Madoff's suspicious activities. Ben Protess is following the story for the New York Times.

Credits

Guest:
Ben Protess - New York Times - @benprotess

Host:
Barbara Bogaev

Producers:
Andrea Brody, Katie Cooper, Benjamin Gottlieb