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Economics Upriser

JP Morgan Whistleblower Witnessed ‘Massive Criminal Securities Fraud’ in Bank’s Mortgage Operations

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Alayne Fleischmann, the woman who cost JPMorgan 9 billion US dollars was repeatedly silenced when attempting to broadcast the bank’s dodgy loans.

Her testimony stated, I saw:
>Massive criminal securities fraud “in their mortgage operations.’

>Fleischmann’s review of random loan samples revealed that about 40 per cent were based on overstated incomes.

She and several others who started to raise their concerns about the fraud were repeatedly ignored.

>Fleischmann, who was dismissed from the bank in 2008, began working with US prosecutors who were investigating JPMorgan in 2012.

[SOURCE](http://www.business-standard.com/article/news-ani/jp-morgan-whistleblower-witnessed-massive-criminal-securities-fraud-in-bank-s-mortgage-operations-114110800809_1.html)

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“JP Morgan Whistleblower Witnessed ‘Massive Criminal Securities Fraud’ in Bank’s Mortgage Operations”