Madoff Trustee seeking $19 billion from JPMorgan

Reuters

(Reuters) - The trustee seeking money for Bernard Madoff's victims filed an amended complaint on Friday more than tripling the amount of damages he is seeking to recover from JPMorgan Chase & Co, once the imprisoned Ponzi schemer's main bank.

Irving Picard is now looking for $19 billion in damages, up from the $5.4 billion he previously sought.

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The damages are in addition to about $1 billion sought in fraudulent transfers and equitable claims.

The amended complaint, based on expanded allegations, also includes a jury demand.

In a complaint made public in February, Picard accused the second-largest U.S. bank of being "thoroughly complicit" in Madoff's fraud and ignoring red flags.

J.P. Morgan now has until August 1, 2011, to respond to the amended complaint, Picard said in a statement.

JPMorgan did not immediately respond to an email seeking comment.

The case is Picard v. JPMorgan Chase & Co et al, U.S. District Court, Southern District of New York, No. 11-00913.

(Reporting by Jochelle Mendonca in Bangalore; editing by Andre Grenon)