The JP Morgan whistleblower who revealed the bank’s flawed home loans scandal is being given a 4 million reward. The bank was fined 14 million for the debacle.
Keith Edwards worked for JP Morgan from 2003 to 2008, and was an assistant vice president supervising a government insuring unit.
The tips he provided to the US government made the bank to admit in a February 4th settlement, that in more than a decade it submitted thousands of unqualified government guarantee mortgages for insurance by the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA).
The reward to Keith Edward consists of 6.5 million for the FHA portion and .4 million for the VA.
Read more now http://rt.com/business/jpmorgan-whistleblower-mortgage-fraud-106/