Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

The U.S. Has Charged Two Former JP Morgan Traders Over The London Whale Trading Loss

Linette LopezAug 14, 2013, 19:33 IST

REUTERSThe U.S. has charged two former JP Morgan traders over the $6 billion 'London Whale' trading lost in the bank's London Chief Investment Office last year.

Charges against former managing director Javier Martin-Artajo and Julien Grout, a low-level trade, include wire fraud and conspiracy to falsify books and records.

Bruno Iksil, the trader known as 'The London Whale', will not be charged as he has been cooporating with authorities. Dealbook reports that federal prosectutors and the FBI have been investigating Grout and Martin-Artajo's phone calls, e-mails and more related to this case for months. Both are out of the country.