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In Legal Wrangling Over Madoff Records, JPMorgan Faces Uphill Battle
By Brian Monroe
printJPMorgan Chase is likely to lose its legal fight with the U.S. Treasury Department over whether it must turn over documents related to convicted Ponzi schemer Bernard Madoff, say former government officials. Last month, the department's Office of Inspector General told JPMorgan executives that they had until early this year to hand over data requested by the Office of the Comptroller of the Currency (OCC), despite assertions by the bank that the OCC did not have the statutory authority to request the information because it was protected under attorney-client and attorney work product privileges. The bank, which was accused by...
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