NEW YORK Jan 8 A federal judge on Wednesday
approved an agreement between JPMorgan Chase & Co and
U.S. prosecutors to settle charges that the bank violated
anti-money laundering laws by failing to alert authorities to
warning signs its employees encountered in dealings with
convicted Ponzi schemer Bernard Madoff.
The settlement, which deferred the criminal charges against
the bank until Jan. 8 2016, requires the bank to pay a $1.7
billion forfeiture and improve its anti-money laundering
controls. If it meets the terms by the appointed date,
prosecutors can chose to dismiss the charges against it.