Lee Raymond Leads JPMorgan Probe Into $6B Trading Loss

Law360, New York (August 20, 2012, 5:53 PM EDT) -- JPMorgan Chase & Co. revealed Monday that former Exxon Mobil Corp. CEO Lee Raymond, a member of its board of directors, has been picked to lead a probe by company directors into a $5.8 billion loss at its London-based chief investment office.

The huge hit is being attributed to risky credit derivative positions taken by a trader who has been called "the London Whale." The U.S. Congress, the U.S. Department of Justice and the U.S. Securities and Exchange Commission are among the numerous entities looking into...
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