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Madoff Fraud-JPMorgan-3

Preet Bharara, U.S. Attorney for the Southern District of New York, announces a settlement with JPMorgan Chase, Tuesday, Jan. 7, 2014 in New York. JPMorgan Chase & Co., already beset by other costly legal woes, has agreed to pay $1.7 billion to settle criminal charges that it ignored obvious warning signs of Bernard Madoff's massive Ponzi scheme, Bharara said Tuesday. (AP Photo/Mark Lennihan)