Ex-JPMorgan Chase Banker Gets 48-Months in Prison for Fraud (1)

A former JPMorgan Chase Bank NA employee who pleaded guilty last year to one count of bank fraud after stealing around $2.4 million from bank clients has been sentenced to four years in prison with three years supervised release.

He’ll also be required to pay $1.6 million in restitution to the bank, according to a judgment filed on March 15 in the US District Court for the Southern District of New York.

The government and the defendant, Kevin Chiu, had agreed his advisory range under the US Sentencing Guidelines should be 63 to 78 months’ imprisonment, but both parties had ...