WASHINGTON -- A unit of JPMorgan Chase & Co. (JPM) will pay $228 million to settle civil fraud charges that it rigged dozens of bidding competitions to win business from cities and counties.
J.P. Morgan Securities LLC made at least 93 secret deals with companies that handled the bidding processes in 31 states, according to the Justice Department and Securities and Exchange Commission. Those deals allowed the bank to peek at competitors' offers. http://seekingalpha.com/news-article/1389224-jpmorgan-pays-228m-to-settle-bid-rigging-charges
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