Rolling Stone: JP Morgan Chase Whistleblower Speaks Out About Biggest Case of White-Collar Crime in History

10th November 2014

In a recent Rolling Stone article The $9 Billion Witness: Meet JP Morgan Chase’s Worst Nightmare, whistleblower Alayne Fleischmann details what she calls “massive criminal securities fraud” in the bank’s 2006 mortgage operations, leading up to the financial crisis. Fleischmann provides personal knowledge that the firm made material misrepresentations about subprime “scratch-and-dent” loans, made material omissions, willfully and with specific intent and deliberately ignored warnings from inside the firm and out. The bank eventually settled with the government for what reports at the time said was $13 billion in an agreement that kept details under wraps aside from a brief statements of facts. 

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