Bernie Madoff, one of the world's most reviled fraudsters, helped regulators ding JPMorgan Chase.
The 75-year-old felon boasted in an email made public Friday that he provided "key information" to the Treasury's Inspector General's office that, presumably, was relayed up the chain of command and eventually used by Manhattan prosecutors in their expected $2 billion criminal action against the bank.
At this point, it isn't clear if the disgraced swindler provided any substantial evidence, or any evidence at all, in identifying JPMorgan or any other banks as being aware of his $20 billion-plus scheme.
Madoff made his claim from the Butner (NC) Federal Correctional Complex — where he's serving a 150-year sentence — in an email to CNBC correspondent Scott Cohn.
JPMorgan was Madoff's primary bank for more than 20 years.
On Dec. 11, it was learned that JPMorgan could face as much as $2 billion in penalties from a criminal action brought by Manhattan US Attorney Preet Bharara for willfully turning a blind eye to Madoff's scam.
JPMorgan is one of a number of banks, including HSBC and UBS, ensnared in government probes over their roles in the massive fraud, sources point out.
As much as half of JPMorgan's fines could be handed over to Richard Breeden, the Justice Dept.'s "special master" tasked with doling out billions in recovered funds to victims.
Separately, a number of victims, it was learned Friday, are considering taking legal action against the government if they aren't made whole on their losses even before the government takes a cut in the penalties, sources told The Post.
"From an equitable point of view, what should really happen is that victims — and anyone who has a claim — should be made whole," said Joseph Sarachek, a bankruptcy claims specialist with CRT Special Investments.
"Because right now at the end of the day, the victim's aren't getting paid," he added.
Critics of Breeden's process of returning money argue that it isn't as streamlined as the process used by Irving Picard, the trustee overseeing the liquidation of assets from Bernard L. Madoff Securities.
Picard feels that Bharara is moving in on his turf and has gummed up the process by which he can recover funds, sources said.
JPMorgan's possible billion-dollar penalties and the prospect that other banks also may be forced to fork over money has intensified hand-wringing among Madoff victims.
The victims would like to know who is best-suited to dole out the recovered money.
Many think Picard should handle these additional funds, said one source.
"The logical thing for [the US government] to do is for them to publish a clear set of instructions as to how the claims process is going to work," Sarachek said.
"Because right now for victims it's very murky," he noted.
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