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SFO wades into probe over $6bn 'London Whale' loss at JP Morgan
by Sarah Miloudi on Aug 23, 2013 at 07:26
The Serious Fraud Office (SFO) has waded into the investigation over JP Morgan's $6 billion (£3.9 billion) 'London Whale' loss, it has emerged.
Speaking to The Telegraph, the SFO said it was 'liaising' with its US counterparts and the Financial Conduct Authority, the UK City regulator, over the scandal, which last year saw JP Morgan clock up a huge loss on derivative trades.
The move comes roughly a fortnight after two former JP Morgan traders - Javier Martin-Artajo and Julien Grout - were charged in the investigation. The pair are based in London and allegedly masked the size of the loss endured by the bank.
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