JPMorgan To Pay $20 Million In Lehman Case

jpOn Wednesday, the Commodity Futures Trading Commission said JPMorgan Chase & Co will be paying a sum of $20 million for settling charges that it unlawfully handled customer segregated funds at Lehman Brothers Holdings Inc.

JPMorgan said in a statement that it “mistakenly factored the balance in the account into a daily calculation of (Lehman) assets to determine the amount of credit the firm was willing to extend to (Lehman).” It added “no customer funds were ever used to satisfy any (Lehman) debt to JPMorgan, nor were any funds in these accounts lost.”

Congressional investigators said the money appeared to come from an MF Global customer-segregated account.

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