JPMorgan client who lost $50 million fortune amid dementia denied trial

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A magistrate judge who previously reviewed the case noted that Yoon and the family’s lawyers certified to the court that Peter reviewed and understood the lawsuit before filing it in 2021.

At JPMorgan, employees are required to immediately report to a supervisor “any situation where they have a reasonable basis to believe that diminished capacity and/or the potential financial abuse, exploitation or neglect of an elder or vulnerable client has occurred,” according to documents filed in the Doelgers’ case.

In the Doelgers’ case, JPMorgan helped Peter invest the lion’s share of his portfolio money in oil and gas partnerships — to a degree that far exceeded the firm’s internal guidelines.

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Article Details

Category: BusinessFinance

Markets: India

Topics: JPMorgan client Dementia patient trial Dementia

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-05 @ 09:09:56 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 1381 words

Reading Time: 8 minutes read

Sentences: 48 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 22891832

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