The complaint also includes a declaration from Casey Stein, a compliance manager at JPMorgan, who testified that he was aware by mid-February 2009 of suspicious activity going on in William Wise's Washington Mutual account. "The unusual activity ... involved rapid movement of funds and international wire transfers to countries with an increased risk of potential money laundering. Further, a large portion of the funds that were deposited into [Wise's] account were being redistributed to Wise, [his employee] Hoegel, and their apparent relatives," Stein said in a declaration included in the complaint. Though Stein's statement accurately describes the fraud, it contradicts the timing described in JPMorgan's investigative report, which suggests that the bank may have been aware of the fraudulent activity as early as October 2008.
finance.fortune.cnn.com/2014/03/14/jpmorgan-ponzi-scheme-suit/