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Two senior officials at JPMorgan Chase & Co and predecessor companies repeatedly confronted Bernard Madoff over irregularities in his business, a new lawsuit said, suggesting that bank leaders had “direct knowledge” of his Ponzi scheme.

The lawsuit filed in federal court in Manhattan on Wednesday on behalf of shareholders against Chief Executive Jamie Dimon and 12 other current and former executives and directors was based in part by statements made by Madoff himself during a series of interviews.

"JPMorgan was uniquely positioned for 20 years to see Madoff’s crimes and put a stop to them," the lawsuit said.

"But faced with the prospect of shutting down Madoff’s account and losing lucrative profits," it added, "JPMorgan - at its highest level - chose to turn a blind eye."

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    He looks like George Washington
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