U.S. officials are planning to arrest two former JPMorgan Chase employees suspected of hiding the size of a multi-billion-dollar trading loss, The New York Times reported on Friday.
The former employees, a manager who oversaw trading strategy and a low-level trader, both worked for the bank in London. They could be arrested in the coming days on criminal fraud charges, sources told the Times.
From the Times:
The employees — Javier Martin-Artajo, a manager who oversaw the trading strategy, and Julien Grout, a low-level trader in London — could ultimately be extradited under an agreement with British authorities. Yet the people briefed on the matter, who spoke on the condition of anonymity, cautioned that it is unclear whether British authorities will be able to locate the men, who are natives of other European countries.
