JP Morgan To Pay $2 Billion Settlement In Madoff Case04:21
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The headquarters of JPMorgan Chase on Park Avenue in New York on December 12, 2013. (Stan Honda/AFP/Getty Images)
The headquarters of JPMorgan Chase on Park Avenue in New York on December 12, 2013. (Stan Honda/AFP/Getty Images)
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JP Morgan Chase is expected to reach a deal with federal authorities this week to pay about $2 billion in civil and criminal penalties to the government for its ties to Bernie Madoff.

The bank is suspected of ignoring signs of Madoff's criminal financial scheme in order to win more commissions on services it provided.

With this payout, JP Morgan will have paid $20 billion to the government in the past year to resolve investigations.

The government reportedly plans to give some of the $2 billion settlement to investors affected by Madoff's Ponzi scheme.

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This segment aired on January 6, 2014.

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