Ex-JP Morgan Muni Head Is Federal Target

Law360 (April 30, 2008, 12:00 AM EDT) -- Records show that JP Morgan Chase & Co., which has been accused of anti-competitive behavior in the municipal securities market, knew that its municipal derivatives head had been targeted by a federal grand jury when the firm fired him in March.

In February, Douglas MacFaddin told his then-employer through an attorney that the U.S. Department of Justice had informed him of the criminal investigation, according to the Financial Industry Regulatory Authority.

The bank has already revealed that the New York office of the DOJ Antitrust Division...
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