BRIEF-JPMorgan Chase settles with U.S. over role in Bernard Madoff fraud, to pay $1.7 billion

Tue Jan 7, 2014 9:21am EST

Jan 7 (Reuters) - JPMorgan Chase & Co : * To pay $1.7 billion to victims of Bernard Madoff Fraud -- U.S. Department of

Justice * U.S. says announcing criminal charges against JPMorgan Chase Bank for two

felony violations of bank secrecy act * U.S. says entering a deferred prosecution agreement with the bank, and

announcing related civil actions * U.S. says criminal charges to be deferred for two years under an agreement

requiring JPMorgan to admit to its conduct * U.S. says JPMorgan also agrees to reform its anti-money laundering policies * U.S. says $1.7 billion payment is the largest ever bank forfeiture in the

U.S., and the largest penalty for a bank secrecy act violation

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