{"id":5489,"date":"2013-08-10T00:00:00","date_gmt":"2013-08-10T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/08\/us_will_likely_arrest_two"},"modified":"2022-05-02T15:41:38","modified_gmt":"2022-05-02T20:41:38","slug":"us-will-likely-arrest-two","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/us-will-likely-arrest-two\/","title":{"rendered":"US Will Likely Arrest Two Ex-JPMorgan Chase Employees Over Trading Losses Related to the London Whale Debacle"},"content":{"rendered":"\n

The United States Government is expected to announce criminal charges against two ex-JPMorgan Chase & Co. (JPM) <\/a>employees over allegations that they tried to cover up trading losses last year related to the London Whale fiasco. The ex-employees are Javier Martin-Artajo, the executive who was in charge of supervising the trading strategy, and Julien Grout, a trader that worked under him. Prosecutors also may impose penalties on the investment bank over this matter. <\/p>\n

The securities fraud allegations<\/a> stem from a probe into whether JPMorgan employees at its London offices tried to inflate certain trades\u2019 values on the banks\u2019 books, and charges could be filed over the falsification of documents and the mismarking of books. The criminal probe also has looked at whether the firm\u2019s London traders engaged in the type of market manipulation that let them inflate their own positions\u2019 value. <\/p>\n

JPMorgan first revealed the losses at the London office May 2012. The trades were made by Bruno Iksil, dubbed the London Whale because of the vastness of his holdings. The bank would go on to lose over $6.2 billion when the trades failed. Other traders also were purportedly involved. They used derivatives to bet on the health of huge corporations. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The United States Government is expected to announce criminal charges against two ex-JPMorgan Chase & Co. (JPM) employees over allegations that they tried to cover up trading losses last year related to the London Whale fiasco. The ex-employees are Javier Martin-Artajo, the executive who was in charge of supervising the trading strategy, and Julien Grout, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3958],"tags":[],"class_list":["post-5489","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-jp-morgan-chase"],"yoast_head":"\nUS Will Likely Arrest Two Ex-JPMorgan Chase Employees Over Trading Losses Related to the London Whale Debacle — Investor Lawyers Blog — August 10, 2013<\/title>\n<meta name=\"description\" content=\"The United States Government is expected to announce criminal charges against two ex-JPMorgan Chase & Co. 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