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JPMorgan Investor Suit Tied to Madoff’s Fraud Is Dismissed

  • Investors alleged JPM ignored red flags about Ponzi scheme
  • Judge rules investors sued too late and didn’t make a case

An investor suit claiming JPMorgan Chase & Co. ignored red flags about Bernard Madoff’s Ponzi scheme and profited from doing business with the con man was dismissed by a federal judge in New York.

The investors waited too long to sue and failed to show that JPMorgan had any control over Madoff’s actions, U.S. District Judge John Koeltl ruled Wednesday.