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U.S. Opens Bribery Inquiry of JPMorgan Hiring in China

Federal authorities have opened a bribery investigation into whether
JPMorgan Chase hired the children of powerful Chinese officials to help
the bank win lucrative business in the booming nation, according to a
confidential United States government document.
In one instance, the bank hired the son of a former Chinese banking
regulator who is now the chairman of the China Everbright Group, a
state-controlled financial conglomerate, according to the document,
which was reviewed by The New York Times, as well as public records.
After the chairman’s son came on board, JPMorgan secured multiple
coveted assignments from the Chinese conglomerate, including advising a
subsidiary of the company on a stock offering, records show.