A trial over whether JPMorgan Chase fired a wealth manager for raising fraud and money laundering concerns about a client ended with each side accusing the other’s main witness of lying.
Bloomberg News reports that Jennifer Sharkey claims the bank ruined her career by illegally firing her in 2009 in retaliation for telling superiors about red flags raised by the client, known in the trial only as "Client A." Sharkey claims JPMorgan Chase violated whistle-blower protections in the 2002 Sarbanes-Oxley Act.
The bank claims it fired Sharkey for lying about an unrelated account.
“Ms. Sharkey came up with this whole idea after she was terminated and started looking for a payday from this court," Michael Schissel, a lawyer for the bank, told jurors in his closing argument Monday in Manhattan federal court. “Ms. Sharkey was terminated because she lied to her boss multiple times. It’s that simple."
Schissel argued Sharkey’s claim that Client A refused to turn over documents needed for JPMorgan Chase’s “Know Your Customer” review was “an unmitigated lie."
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