The trustee for Peregrine Financial Group is considering bringing claims against JPMorgan Chase (JPM) and U.S. Bancorp (USB) for allegedly permitting the embezzlement that brought down the brokerage last summer.

Trustee Ira Bodenstein sees evidence that the banks "breached a variety of duties" to Peregrine's customers and is investigating "a number of viable claims" against them, he wrote in a complaint filed Wednesday in an Illinois bankruptcy court. The court granted Bodenstein's request to delay a class-action suit against the estate while it investigates claims against the banks as well as the brokerage's former management.

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