'London Whale' Non-Prosecution Deal Has Attys At A Loss

Law360, New York (August 14, 2013, 8:43 PM EDT) -- Federal officials on Wednesday charged two former JPMorgan Chase & Co. employees over the bank's $6 billion derivatives loss but allowed "London Whale" trader Bruno Iksil to swim free under a non-prosecution deal — a rare move that left some in the defense bar puzzled.

In a pair of complaints in New York federal court, prosecutors charged former U.K.-based JPMorgan employees Javier Martin-Artajo and Julien Grout with masking the severity of the losses during the trading blowup. Iksil, whose massive, wrong-way bet earned him the nickname "the London Whale," struck a nonprosecution agreement and is cooperating with the government. He also...

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