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Monday, August 12, 2013

Two Ex-Employees of JP Morgan Face Arrest

Two former employees of JP Morgan; Javier Martin-Artajo and Julien Grout, are likely to be arrested by the federal authorities on alleged involvement in the ‘London Whale’ case that rocked the bank last year. While none of these two employees were expected to be charged in the case, authorities are suspicious that Javier and Grout played a key role in concealing the amount that that JP Morgan had incurred on account of the scandal. Arrests in London The arrests are likely to happen in London in the coming days. Javier Martin-Artajo was a manager at the bank and was responsible for the trading strategy while Julien Grout was a trader in London. Both of them are likely to be extradited under an agreement with British authorities. The Federal Bureau of Investigation as well as the federal prosecutors has been investigating the case. The decision of arrest comes after more than a year of investigation and collection of evidence. About the Scandal JPMorgan, the largest bank in the Unit

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