Company News

JPMorgan finds more than 500 workers got U.S. virus relief funds - Bloomberg News

Sept 30 (Reuters) - JPMorgan Chase & Co has found that more than 500 employees got assistance from taxpayers aimed at helping businesses through the COVID-19 pandemic, Bloomberg News reported on Wednesday, citing people familiar with the matter.

After noticing hundreds of employees had received government funds in their accounts, the bank has begun scrutinizing director-level employees and workers who received certain amounts, according to the report here.

Earlier this month, the bank dismissed several employees who allegedly misused funds that were supposed to help businesses dealing with the pandemic, the Financial Times had reported.

JPMorgan did not immediately respond to Reuters request for comment.

Reporting by Abhishek Manikandan in Bengaluru; Editing by Amy Caren Daniel