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Friday, March 29, 2024

Quietly, JPMorgan Chase Has Been Battling Another Felony Charge – This Time for Tax Fraud in France. Its Defense Is Its “Human Rights” Have Been Violated.

Courtesy of Pam Martens

Thierry Marembert, an Attorney for JPMorgan Chase in Wendel Tax Fraud Case

Thierry Marembert, an Attorney for JPMorgan Chase in Wendel Tax Fraud Case

JPMorgan Chase is the bank that gambled with the bank deposits of moms and pops across America in 2012 by trading exotic derivatives in London and losing $6.2 billion in the process. It’s also the bank that admitted to two felony counts in 2014 for its role in facilitating Bernie Madoff ripping off the life savings of thousands of more moms and pops across America. Its rap sheet of ripping off the little guy reads like that of an entrenched crime family.

But when the bank was indicted in France on April 16, 2015 for being complicit in tax fraud, it had the temerity to appeal the charges on the basis that its “human rights” had been violated, along with various codes of criminal procedure. Its argument boiled down to this: it hadn’t been advised that it had the right to remain silent during an interrogation.

JPMorgan is an international bank that has been in existence for more than a century. It has legions of international lawyers on its payroll, employed at the most sophisticated law firms in the world. After a century of court battles, shouldn’t the bank and its lawyers know it has the right to remain silent?

Amazingly, on September 26, 2018, the criminal chamber of the Court of Cassation in France bought into this argument and not only annulled the indictment but ordered that all references to the bank, including its attorneys’ names, be removed from the indictment.

We could see this court rationale if the case was about some bloke down on his luck with no prior brushes with the law who was being represented by the public defender. But JPMorgan Chase is a five-count felon in the United States, a recidivist law breaker, with the best lawyers that billions of dollars in profits a year can buy.

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