Fraud Key | Fraud on Keyboard Please feel free to use this i. | Flickr1024 ├-- 648 - 136k - jpg
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'JPMorgan, it appears, was running an elaborate shell game. In the depths of the financial collapse, the bank had unloaded tens of thousands of toxic loans when they were worth next to nothing. Then, when it needed to provide customer relief under the settlements, the bank had paperwork created asserting that it still owned the properties. In the process, homeowners were exploited, investors were defrauded and communities were left to battle the blight caused by abandoned properties. JPMorgan, however, came out hundreds of millions of dollars ahead, thanks to using other people’s money.The alleged fraud is described in internal JPMorgan documents, public records, testimony from homeowners and investors burned in the scam,now being heard in US District Court in NYC.'