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Bragar Eagel & Squire, P.C. Is Investigating JPMorgan, Bank of America, and Citigroup and Encourages Investors to Contact the Firm

Bragar Eagel & Squire
·3 mins read

NEW YORK, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against JPMorgan Chase & Co. (NYSE: JPM), Bank of America Corporation (NYSE: BAC), and Citigroup, Inc. (NYSE: C) on behalf of investors. Our investigation concerns whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.

On September 20, 2020, BuzzFeed News and the International Consortium of Investigative Journalists (ICIJ) published the FinCEN Files, a comprehensive investigation of global financial institutions involving “more than 400 reporters in 88 countries” and “twenty-two thousand pages of never-before-released government documents.” The FinCEN Files investigation purportedly “reveal[s] how some of the world’s biggest banks have facilitated the work of notorious terrorists, drug cartels, and despots” and centers around more than 2,100 suspicious activity reports (“SARs”) submitted to the US Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”). Banks and other financial institutions submit SARs when they observe transactions that suggest money laundering or other illegal activity, and while these reports can support investigations and intelligence gathering, they are not by themselves evidence of a crime. The FinCen Files included SARs filed by nearly 90 financial institutions.

JPMorgan Chase & Co., Bank of America Corporation, and Citigroup, Inc. are among several financial institutions that Buzzfeed News claims “collectively processed millions of dollars in transactions for the family of Viktor Khrapunov, the former mayor of Kazakhstan’s most populous city, even after Interpol issued a Red Notice for his arrest. Khrapunov, who had already fled to Switzerland and who claims the allegations are politically motivated, was later convicted in absentia on charges that included bribe-taking and defrauding the city through the sale of public property.”

Based on the above news, on September 21, 2020, shares of JPMorgan fell $3.04 per share, to close at $95.31 per share, shares of Bank of America fell $0.74 per share, to close at $24.47 per share, and shares of Citigroup fell $0.93 per share, to close at $43.92 per share.

For more information on our investigation into JPMorgan go to: https://bespc.com/JPM

For more information on our investigation into Bank of America go to: https://bespc.com/BAC

Fore more information on our investigation into Citigroup go to: https://bespc.com/C

About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com