Chase Pays $228 Million To Settle Bond Rigging Allegations

Chase Pays $228 Million To Settle Bond Rigging Allegations

JP Morgan Chase today agreed to pay $228 million to settle allegations that it had rigged almost 100 municipal bond auctions between 1997 and 2005. WSJ reports one of the big claims in the case was that the bank got the guys handling auctions to give them a “last look” at all of the bids, so that JP Morgan could win all of the auctions. [More]