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Browse: Home / 2011 / June / 22 / JPMorgan to pay $153.6M to settle fraud charges

JPMorgan to pay $153.6M to settle fraud charges

By Securities Docket on June 22, 2011, 10:06 am

JPMorgan Chase & Co. has agreed to pay $153.6 million to settle civil fraud charges that it misled buyers of complex mortgage investments just as the U.S. housing market was collapsing.J.P. Morgan Securities, a division of the powerful Wall Street bank, failed to tell investors that a hedge fund helped select the investment portfolio and then bet that the portfolio would fail, the Securities and Exchange Commission said.

Read more: JPMorgan to pay $153.6M to settle fraud charges — AP

Posted in SEC, Top | Tagged Mortgage-Backed Securities, Settlements

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