Ex-JPMorgan wealth manager says she was fired for raising red flags

A long-delayed whistleblower trial began Monday over claims that JPMorgan Chase fired a wealth manager for raising red flags about a client in 2009, just months after the discovery that Bernard Madoff used JPMorgan Chase accounts to advance his multibillion-dollar fraud.

Bloomberg News reports that Jennifer Sharkey, a former vice president of JPMorgan Chase’s private wealth management group, sued in 2010, claiming she was fired for investigating suspicions that a client might be involved in fraud or money laundering. The trial in Manhattan federal court is expected to take about a week.

It’s rare for a bank to be accused of violating whistle-blower protections in the 2002 Sarbanes-Oxley Act. According to Sharkey, she was fired less than a week after making a formal recommendation that the bank end its relationship with a client after she had spent months warning about possible illegal activity. The man is referred to in court only as "Client A."

Hit the link below to access the complete Bloomberg News article:

JPMorgan Chase Defends Whistleblower Claim From Madoff Era

For One Swiss Banker, Crackdown Was Opportunity, Prosecutors Say


JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News