"Irving Picard, the trustee liquidating Bernard Madoff’s firm, said he filed a revised lawsuit today against JPMorgan Chase & Co. (JPM), demanding a minimum of $19 billion in damages.
Picard had sought $5.4 billion in damages previously in addition to $1 billion in transfers and claims. The filing couldn’t immediately be confirmed in court records.
JPMorgan “was an active enabler of the Madoff Ponzi scheme,” said Picard’s lawyer David Sheehan, in a statement. JPMorgan “not only should have known that a fraud was being perpetrated, they did know,” he said".............LINK
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