The NY Times says the arrest of two former JP London employees is imminent. The arrest stems from the 'London Whale' incident. They will be charged with hiding the amount of the losses as they started to mount. Naturally, the employees are not officers, one is a manager, the other a trader.
I wrote a week ago that JP is being hit with a slew of investigations. I learned in this article that the SEC may actually ask JP to admit their wrongdoing. This would be a big switch by the SEC as in all other cases they have let JP and other banks off the hook with a fine and allowed the banks to “neither admit nor deny wrongdoing.” Gee, maybe they will eventually try a high-level employee.
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