Report: Spain Will Likely Extradite The JP Morgan Trader Connected To The London Whale Debacle

Another day, another legal headline for JP Morgan.

Federal prosecutors believe Javier Martin-Artajo, the former JPMorgan Chase trader facing criminal charges in connection with the bank's "London Whale" trading loss, will be extradited to the United States to face trial.

At a conference on white collar crime, U.S. attorney Lorin Reisner said, "We have a pretty good extradition agreement with Spain.. I expect [that Martin-Artajo] will return to the U.S. via the extradition process," The New York Times' Ben Protess and Peter Lattman report.

Spanish authorities are expected to cooperate with the U.S. attorney's office in New York, according to the Times.

As for Julien Grout, the other former JP Morgan employee connected with last year's multibillion-dollar loss, Reisner said extradition could be "more complicated." Grout returned home to France, which does not typically extradite its citizens.

Bruno Iksil, the "London Whale" himself, will avoid prosecution thanks to a deal with the government. He's expected to testify against his former colleagues.

Read the full report at the New York Times >