JPMorgan Chase settles China bribery claims for $264M

November 19, 2016 | BY

Katherine Jo &clp articles

The U.S. Justice Department charges JPMorgan Chase of FCPA violations, targeting the bank's "Sons and Daughters" hiring program in China

Share:

 

A subsidiary of JPMorgan Chase & Co. ran a nepotism program on a grand scale in China, Justice Department officials said Thursday, as the bank agreed to pay $264.4 million to settle allegations it hired the sons and daughters of government officials to bribe its way to investment deals.