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SPANISH FLY Ex–JPMorgan Trader Arrested Shannon Stapleton/Reuters

Ex–JPMorgan Trader Arrested

Looking for someplace to go to flee extradition? France and Spain are apparently lovely every time of year. Spanish police arrested former JPMorgan trader Javier Martin-Artajo, and the Spaniard faces possible extradition to the U.S. Earlier this month Martin-Artajo was charged, along with a former colleague, Frenchman Julien Grout, with wire fraud, conspiracy, and falsifying records in an attempt to cover up over $6.2 billion in trading losses incurred by trader Bruno Iksil, who made oversize bets on credit derivatives that earned him the nickname the London Whale. Martin-Artajo’s case has been handed over to Spain’s High Court, which decides on extradition requests, but sources close to both charged men claim it isn’t likely for either.

August 27, 2013 1:35 PM