Corporate crime has become increasingly common over the past two decades. It seems like every big company today has some kind of dark side. With ongoing prosecutions of corporate officials, it seems that many high-profile companies can no longer be trusted. We can no longer look at our banks in the same way; JPMorgan Chase in the last two years can be added to the list of corporate crimes. They committed crimes against their customers and the government by rigging their investment deals for years, charging inappropriate rates for home insurance, and overcharging military veterans. From this they stole millions of dollars to put in their pockets. What makes this case interesting is that Chase is one of the major banks in this country. Millions of Americans trust this bank with their life savings and it turns out they have entrusted their money to criminals. The first crime allegedly took place in the years 1997 to 2005 and was first covered up in July 2011. The bank "defrauded governments in 31 states by manipulating the bidding process to reinvest the proceeds of dozens of municipal bonds (2).” They did not do this on their own initiative; they had the help of around 11 bidding agents. To give an idea of what the bidding process is, it is when cities with the help of banks bid for Le reinvestment products cities take tax money and buy bonds from banks for this investment other cases he deliberately submitted unsuccessful bids to meet tax requirements.” (2) They admitted to having also participated in “secret deals with bidders (2).”The motivation behind this was…… half of the document.. ....July 2011. Web. April 9, 2012. .3. Hilzenrath, David S. "JP Morgan to Pay $153.6 Million in Fraud Case." Washington Post, June 22, 2011. Web . 09 April 2012. .4. Post, The Huffington. "JPMorgan, Bank of America, Wells Fargo accused of overcharging military veterans." TheHuffingtonPost.com, May 10, 2011. Web. April 9, 2012. .5.Story, Louise. “Big Banks Face Home Insurance Investigation.” New York Times. January 12, 2012. Web. April 9. 2012. .
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