U.S. authorities are examining JPMorgan Chase & Co.’s (JPM) ties to a consulting firm owned by the daughter of former Chinese Premier Wen Jiabao as part of a probe into whether the bank awarded contracts and jobs in order to win business deals, the New York Times reported today.
JPMorgan is cooperating with the Securities and Exchange Commission and the U.S. attorney’s office in Brooklyn, which are leading the investigation, and also conducting its own internal review, the newspaper reported. The bank hasn’t been accused of any wrongdoing, according to the report.
Lisa Liang, a Beijing-based spokeswoman for JPMorgan, declined to comment.
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