Former JPMorgan Banker Pleads Guilty in Embezzlement Case (1)

A former Brooklyn-based business relationship manager and private client banker at JPMorgan Chase & Co. has pleaded guilty to one count of bank fraud.

Kevin Chiu appeared before Judge Denise L. Cote in the US District Court for the Southern District of New York to enter his plea on Monday, withdrawing an earlier not guilty plea.

“Mr. Chiu has accepted full responsibility for his conduct, and seeks to make amends,” defense counsel Ilana Haramati said. “He is glad that none of the customers lost money based on his actions.”

Haramati, a partner with Meister Seelig & Fein, said Chiu is ...