Fleischmann explained in the report that some 40% of randomly-sampled mortgage holders with the bank had inflated their incomes in order to be approved for loans.
In one case, she investigated a manicurist who claimed to be earning $117,000 per year. According to Fleischmann’s calculations, the woman would have worked 488 days in a single year to earn that amount.
“And that's with no overhead," Fleischmann said. "It wasn't possible."
The bank was guilty of accepting countless applications of this nature, she said.
Despite her efforts to raise the red flags internally to her manager, she was continually shot down.
“If you sent him an e-mail, he would actually come out and yell at you,” she said. “The whole point of having a compliance and diligence group is to have policies that are set out clearly in writing. So to have exactly the opposite of that – that was very worrisome.'
JP Morgan Chase is the largest bank in the U.S., with total assets of $2.5 trillion.=pic(MIKE SEGAR/REUTERS)
After speaking with the SEC, federal prosecutors put together a case that resulted in the bank paying out $9 billion.
Outgoing U.S. Attorney General Eric Holder publicly stated that the Department of Justice wanted to send a clear signal that one’s profit does not exempt him or her from the law.
“'No firm, no matter how profitable, is above the law, and the passage of time is no shield from accountability.'
Fleischmann said she knows that she puts herself at risk for losing a lot by revealing the inner workings of JP Morgan
"I could be sued into bankruptcy," she said. "I could lose my license to practice law. I could lose everything. But if we don't start speaking up, then this really is all we're going to get: the biggest financial cover-up in history."
2-2
It is a priceless story of the happy ending like that.
****
Missing 2-year-old Michigan girl ‘loved it in the woods’: official
Brooklyn Lynn Lilly was found Thursday after a 19-hour search, and told her rescuers she enjoyed her adventurous night in the woods. A photo captured of her after she was found shows an adorable smiling Brooklyn wrapped in a gray sweatshirt.
BY Corinne Lestch / NEW YORK DAILY NEWS / Friday, November 7, 2014, 10:31 AMA.
Tawas City Assistant Fire Chief Jeffery Seyfried captured this photo of Brooklyn Lynn Lilly moments after she was found by a Michigan State Police Canine Unit.=pic=Courtesy Jeffery Seyfried
The adorable 2-year-old missing Michigan girl who was found Thursday just wanted to play in the woods.
Brooklyn Lynn Lilly, who was found in a leafy area near a creek after spending an adventurous night in the woods, told her rescuers that “she loved it in the woods,” said Tawas City Fire Department assistant chief Jeffery Seyfried, according to MLive.
The precocious little girl started giggling the moment she was found, and a photo snapped by Seyfried shows her wearing a big grin while she’s wrapped in a gray sweatshirt.
She was dirty and had a cut on her nose.
“It was a rough night, but the moment that she was found was something special,” said Seyfried, who took the photo with his phone.
“She was bundled up in her jacket and when the team walked up to her, she started giggling," he continued. "She actually told one of the guys that she loved it in the woods.”
The blond, blue-eyed girl was found about three-quarters of a mile from her home in Tawas City after a 19-hour search. Her family was still processing the ordeal.
A photo taken of Brooklyn before she disappeared on Wednesday.=pic=Michigan State Police
“I’m still shocked,” said Alecia Cook, the girl’s step-aunt.
A cousin added that she was happy Brooklyn was found safe and sound.
“It’s just overwhelming joy,” Jen Mitchell told the paper. “It was frustrating that we weren’t able to help, but the police did a great job.”
Seyfried said he helped search for a missing older man earlier this year, but this case was different.
“...This was with a 2-year-old,” he said. “You just never know what could happen to someone that young. I’m glad that she was safe and unharmed.”
