A big client has blamed JPMorgan of mismanaging an investment account that held $1 billion in assets owned by his company, Access Industries. Specifically, it charges that a JPMorgan banker advised the company to invest in subprime-related securities that resulted in a near $100 million loss.

"The suit contends that (the banker) told Access that its funds were being invested in conservative instruments--not securities that wound up at the center of the American mortgage crisis," according to the New York Times. The account was intended to be focused on conservative, low-risk securities; only 20 percent of the fund was allowed to be invested in mortgage-related securities. One issue is whether the securities were purchased because JPMorgan was unwinding them. The bank says that is not the case. 

For more:
- here's the article

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