4:00am

Wed June 22, 2011
Business

JPMorgan Securities to Settle Fraud Charges

J.P. Morgan Chase will pay more than $150 million to settle charges the firm misled investors about the riskiness of the mortgage backed securities the firm was selling. The Securities and Exchange Commission says J.P Morgan Securities designed the packages to do poorly and then hid that fact from investors. The company neither confirms nor denies the allegations.

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