Charges dropped after 'Whale' accused JPM's Dimon of making him a fall guy

Section:

By Francine McKenna
MarketWatch.com, New York
Friday, July 21, 2017

The case against two traders in the infamous "London Whale" case appears to have fallen apart after the Whale himself, considered a key witness, accused J.P. Morgan Chase & Co. Chief Executive Jamie Dimon of setting him up as a fall guy.

The U.S. Department of Justice revealed today that it is seeking permission from a judge to dismiss the charges against two former J.P. Morgan derivatives traders, Javier Martin-Artajo and Julien Grout. According to the announcement, a key reason for dropping the case is because prosecutors no longer believed Bruno Iksil's testimony could be relied upon to prosecute "based on a review of recent statements and writings made by Iksil."

Iksil, the trader nicknamed "the London Whale" and a former colleague of the two defendants at J.P. Morgan, recently accused Dimon and other J.P. Morgan senior executives of using him as "a screen" in the effort. According to a statement from the Justice Department, the prosecutors had also failed to win approval for the extradition of Martin-Artajo and Grout from Spain and France. ...

... For the remainder of the report:

http://www.marketwatch.com/story/charges-dropped-after-london-whale-accu...



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