Investigators in the US have indicated that two former JPMorgan Chase employees, who are accused of covering up multibillion-dollar trading loss, might be arrested for their involvement in the scandal.
The two former employees, who worked in London, could be arrested during the coming few days, according to the people closer to the matter. There are indications that the suit against then would include criminal fraud charges. The pair, Javier Martin-Artajo, a manager who oversaw the trading strategy, and Julien Grout, a low-level trader in London, might also be extradited under an agreement with the government of the UK.
However, it is not known if the authorities in the UK would be able to locate the two employees as they are nationals of other European nations. Experts have said that the aggressive stance by the government might send a warning to the financial industry that the excessive risk talking and inappropriate behaviour might be acceptable in the future.
The loss is directly linked toe h major financial crisis at the financial major in 2008. They used bank's chief investment office in London to retract investors to derivatives to guess the health of large corporations like American Airlines.
0 comments:
Post a Comment