Score one for the poetic irony pages.
Two months after JPMorgan CEO Jamie Dimon lashed out at bitcoin, calling it a "fraud" which is "worse than tulip bulbs, warning it won't end well", will "blow up" and "someone is going to get killed" and threatened that "any trader trading bitcoin" will be "fired for being stupid" as it was merely a tool for money-laundering, today Swiss daily Handelszeitung reported that the Swiss subsidiary of JPMorgan was sanctioned by the Swiss regulator, FINMA, over money laundering and "seriously violating supervision laws."
As the newspaper adds, the Swiss sanctions relate to breaches of due diligence in connection with money laundering standards. In other words, JPMorgan was actively aiding and abeting criminal money laundering.
The report further notes, the Finma decision was issued on June 30 and should have been published the following week but JPMorganm tried to prevent the publication of the judgment. More recently, the Federal Administrative Court dismissed the appeal.
In response to money-laundering violation, JPM said that in support of safety and soundness of global monetary system, “we have made and continue to make significant enhancements to the firm’s AML program to ensure we are meeting regulatory expectations,” according to an emailed statement sent to Bloomberg.
Unfortunately, JPMorgan also said that it can’t, or rather won't, provide further details since the Finma resolution from June 2017 isn’t public.
This means that anyone wondering if Jamie Dimon's bank was using (and thus trading) bitcoin to circumvent Swiss anti-money laundering regulations, will just have to ask Jamie Dimon in person during his next public appearance.
Source: ZeroHedge
JP Morgan Trades Bitcoin ETN for Clients After CEO Calls It a 'Fraud'
https://www.investopedia.com/news/jp-morgan-buys-bitcoin-after-ceo-calls-it-fraud/
Data Dump:
*Child Porn in the U.S. Pentagon Goes Uninvestigated · Senator Grassley & Anderson Cooper CNN (2011-01-06)
*Watch “NBC News: Hillary Clinton ‘Covered Up’ Pedophile Ring At State Department (2013)
http://investmentwatchblog.com/watch-nbc-news-hillary-clinton-covered-up-pedophile-ring-at-state-department-2013-on-youtube/
*The U.S. Government Accountability Office said the nation’s K-12 schools lack a systemic approach to preventing and reporting educator sexual abuse of students, despite a problem that the report said affects an estimated 9.6 percent of students – nearly one in 10 – who are subjected to sexual misconduct by teachers, coaches, principals, bus drivers and other personnel during their K-12 career. That figure is from a 2004 report made to the U.S. Department of Education and is the most recent estimate available, according to the Government Accountability Office report.
https://edsource.org/2014/schools-failing-to-protect-students-from-sexual-abuse-by-school-personnel-federal-report-says/57023
*Private schools, painful secrets.
More than 200 victims. At least 90 legal claims. At least 67 private schools in New England. This is the story of hundreds of students sexually abused by staffers, and emerging from decades of silence.
https://www.bostonglobe.com/metro/2016/05/06/private-schools-painful-secrets/OaRI9PFpRnCTJxCzko5hkN/story.html
*Congress Has Paid $17M in US Taxpayer $ for 268 Sexual Harassment Settlements
http://www.cnn.com/2017/11/16/politics/settlements-congress-sexual-harassment/index.html
*The 8th Woman Has Come Forward Accusing George (name of JFK Jr. magazine) Herbert Walker Bush of Sexual Abuse
An eighth woman has accused George H.W. Bush of sexual misconduct:
http://nydn.us/2zbDv5N
'We Are One'