JPMorgan Chase accused of criminality

Or so thinks the International Consortium of Investigative Journalists (ICIJ), which recently published a report on money laundering at some of the biggest banks on Wall Street. The report is based on secret documents leaked from FinCEN, the Financial Crimes Enforcement Network, a unit of the U.S. Treasury. The banks mentioned are JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon. The comments are by Pam Martens, of  Wall Street on Parade; I've followed here for a while and she seems to know what she is talking about.

While her primary concern is that the NY Times and Wall Street Journal have not really done much with this information, she does lay out a case against JPMorgan Chase. 

JPMorgan Chase has pleaded guilty to three criminal felony counts brought by the U.S. Department of Justice since 2014; she also brings up several examples of JP being involved in moving funds illegally, one example being for Paul Manafort. Furthermore, she writes "In February of this year, the Financial Secrecy Index named the United States as the second worst country, behind only the Cayman Islands, in helping individuals hide their finances from the rule of law. The report noted that the U.S. “has yet to sign up to the Common Reporting Standard, which currently has 105 signatories.”

She points out a number of shady cases involving JP. It's a good - but disturbing - read.