UK Criminal Agency Joins Probe Of JPMorgan 'Whale' Loss

Law360, New York (August 21, 2013, 3:27 PM EDT) -- Prosecutors in the U.K. Serious Fraud Office have joined a sprawling investigation into JPMorgan Chase & Co.’s $6 billion “London Whale” derivatives trading loss, a spokesperson for the agency confirmed Wednesday.

The U.S. Department of Justice, U.S. Securities and Exchange Commission, FBI and U.K. Financial Conduct Authority have been investigating the trades by Bruno Iksil, whose massive wrong-way bet in early 2012 earned him the nickname “the London Whale.” A Serious Fraud Office spokesperson said Wednesday that “we are liaising with our U.S. counterparts as well...
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