SPANISH FLY

Ex- JPMorgan Trader Arrested

Faces possible extradition to the U.S.

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.