Investors have not been happy about the pending merger between Chase Manhattan Corp. and J. P. Morgan & Co., but we suspect that not many are aware of a RICO suit against them in which Japan's Sumitomo Bank is seeking $532 million from Chase and $735 million from Morgan.

At the end of October, a Federal judge refused to dismiss the lawsuits, which allege that the two banks aided and abetted a rogue trader in a global scam involving the copper market.

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