Peter Doelger and his wife, Yoon, say they increasingly depended on JPMorgan’s advice for managing their portfolio, only to watch it lurch ever closer to zero.
Photographer: Simon Simard/BloombergThe Big Take
JPMorgan Is in a Fight Over Its Client’s Lost $50 Million Fortune
The bank claims it was acting on an investor's wishes to take risks. His family, and doctors, say he was slipping into dementia.
By the time Peter Doelger signed the paperwork to have JPMorgan Chase & Co. handle his fortune, he had built a company spanning the US, sold it to a conglomerate and bet the proceeds on stocks and oil, beating the markets.
By 78, he said he was worth at least $50 million. And, according to his family, he was starting to show signs of dementia.