December 2, 2010 7:48 pm

JP Morgan and Madoff “Partners In Crime”?

Irving Picard, the trustee in charge of Bernie Madoff?s seized assists, is suing Madoff?s primary bank – JP Morgan. Picard alleges the bank ignored warning signs of the infamous ponzi scheme, and its eventual implosion. The bank responded to the suit, saying they have become a target because of their ?deep pockets.?The trustee is also looking to Madoff?s investors, many of who unknowingly took out more money over the years than their initial investment.Chief investigative reporter Jonathan Dienst brings us more on the story.

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