Two charged over $6bn London Whale losses

Two former J.P. Morgan traders have been charged in the US over the scandal that saw the bank sustain losses of $6bn.

London-based Julien Grout and Javier Martin-Artajo have been charged with wire fraud and a conspiracy to falsify books and Securities and Exchange Commission records. The charges were filed in a Federal court in Manhattan on Wednesday (14 August). Martin-Artajo was in charge of the J. P. Morgan team whose corporate credit investments went awry in early 2012, while Grout was responsible for recording positions' daily values, according to the Wall Street Journal. Both men have previously denied any wrongdoing. Bruno Iksil, the man known as the ‘London Whale' who conducted the loss...