BRIEF-Scio Diamond Technology says DOJ announces federal indictment charging former chairman
* Department of justice announced federal indictment charging former Scio Diamond board of directors chairman, Edward S. Adams
MILAN U.S. investment bank J.P. Morgan (JPM.N), which is being investigated by Italian prosecutors probing Monte dei Paschi's purchase of a smaller rival, said on Wednesday it and its employees acted correctly at all times.
In an e-mailed statement, J.P. Morgan said it had never benefited from an indemnity agreement with Monte dei Paschi that prosecutors allege protected the U.S. investment bank from potential losses linked to a hybrid instrument used to partly fund the 2007 acquisition.
"No claim was ever made under this indemnity (which only existed for a matter of days) either for the benefit of J.P. Morgan or any of its employees," JP Morgan said.
"We believe that J.P. Morgan and its employees acted correctly at all times. We will defend this action vigorously," it said.
(Reporting by Silvia Aloisi, editing by Jennifer Clark)
March 24 Wall Street's predilection for a glass-half-full view of President Donald Trump was on full display Friday as investors backed off fears that a failure to repeal Obamacare would endanger Trump's entire agenda in favor of optimism that he would simply get on with tax cuts and infrastructure spending.