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

The 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.