Peoria Public Radio Staff
Thu August 15, 2013
2 Ex-Traders Accused Of Covering Up JPMorgan Losses
Originally published on Thu August 15, 2013 4:24 am
Federal prosecutors in the U.S. have charged two former traders in JPMorgan Chase's London office with securities fraud. The two men were part of the so-called "London Whale" case, which ended up costing the company more than $6 billion. U.S. officials say the men lied about the value of some derivatives trades to cover up mounting losses.