'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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!