Wednesday, August 14, 2013

Former JP Morgan staffers charged of trade mulit-billion trade loss cover up

Two former employees of a major US bank have been charged in relation to the so called London Whale trading scandal. Both Javier Martin-Artajo, and Julien Grout are accused of trying to cover up last year's $ 6.2 billion derivatives trading loss and have been charged in both criminal and civil court with falsifying documents and wire fraud. They worked in JP Morgan Chase's chief investment office. Al Jazeera's Kristen Saloomey reports from New York, US.