A law firm in Burlingame, CA has filed a suit against JPMorgan Chase, for their connection with a ponzi scheme in the Bay Area. The scheme which duped investors for $150 million was operated out of Napa by William A. Wise, Jacqueline Hoegel and her daughter, Kristi. The trio operated through an organization called Millenium Bank. The lawsuit claims that the Napa branch of Washington Mutual (now owned by JPMorgan Chase) "not only assisted in depositing millions from innocent investors and helping wire millions to offshore banking havens, it also "provided to Millennium a remote banking platform that it could use to transfer and launder money faster and with less oversight, all in violation of the law."
The article can be found here: http://www.breakinglegalnews.com/5928
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