‘London Whale’ Traders Indicted As JPMorgan Inks $800M Deal

Law360, New York (September 16, 2013, 9:56 PM EDT) -- A federal grand jury reportedly indicted two former JPMorgan Chase & Co. traders with five criminal counts each on Monday, as news reports indicated the company had agreed to pay regulators more than $800 million to resolve an investigation into the $6 billion "London Whale" losses.

Former U.K.-based JPMorgan traders Javier Martin-Artajo and Julien Grout were charged with intentionally concealing losses in the bank’s infamous London Whale incident on Aug. 14, and Martin-Artajo was arrested by Spanish police on Aug. 27. A federal grand jury indicted...
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