Two Ex-JPMorgan Employees Indicted

LONDON MINNOWS

Updated Apr. 20, 2017 5:47PM EDT / Published Aug. 14, 2013 11:48AM EDT

It's always the lower-level employees who get busted. The U.S. government Wednesday announced it would bring charges against two junior ex-JPMorgan Chase employees for their involvement in the company's 2012 "London Whale" losses of over $6 billion. Javier Martin-Artajo and Julien Grout will face charges that may include falsifying records and filings with the SEC, wire fraud and conspiracy to conceal the aforementioned losses. Meanwhile, the real London Whale, Bruno Iksil, is still swimming free. Iksil, the senior executive who took the derivatives positions that eventually led to the loss, is escaping prosecution in exchange for cooperating with investigators.

Read it at the Los Angeles Times

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Two Ex-JPMorgan Employees Indicted