Defferred Prosecution Agreement between JPMorgan and US Government in Madoff Ponzi Scheme Scandal

• 영문명: Deferred Prosecution Agreement between JPMorgan and the US Government in Madoff Ponzi Scheme Scandal
• 발행기관: 한국윤리경영학회
• 저자명: 최경규(Gyoung-Gyu Choi)
• 간행물 정보: 『한국윤리경영학회 학술대회 발표논문집』2015년 추계학술대회 발표논문집, 1~15쪽, 전체 15쪽
• 주제분류: 경제경영 > 경영학
• 파일형태: PDF
• 발행일자: 2015.10.30

영문 초록

On January 6, 2014, JPMorgan Chase entered into the Deferred Prosecution Agreement with the Officeof the US Attorney for the Sourthern District of New York, in which JPMorgan agreed to pay 1.7 billion dollars penalties (the “Stipulated Forfeiture Amount”). In the investigation of the scandal, JPMorgan admits its wrongdoing related to the Madoff Scandal in conjunction with Ponzi scheme. The Stipulated Forfeiture Amount is to be distributed to victims of the fraud at Madoff Securities. This paper studies what is Ponzi scheme, and why JPMorgan is responsible for its conduct in the fraud by Madoff Securities. Moreover, this paper explores the JPMorgan’s compliance program in the Agreement, which describes the JPMorgan’s obligation to cooperate the process of the US regulatory authority. This paper shows the US legal standards of the banking business, which suggest implications of a legal standard and an ethical obligation of banking institutions to customers in Korea.

목차

Ⅰ. Introduction

Ⅱ. Bernard L. Madoff Investment Securities, LLC

Ⅲ. JPMorgan Chase and Madoff Investment Securities

Ⅳ. The Effects of JPMorgan Chase’s Silence about Madoff’s Ponzi Scheme

Ⅴ. Conclusion

키워드

Banking Regulation Forfeiture JP Morgan Chase Madoff Scandal Ponzi Scheme