"It is not down in any map; true places never are.""Moby Dick"Herman MelvilleNews reports that prosecutors have dropped their case against Bruno Iksil, the former JPMorgan (NYSE:JPM) trader many know as the “London Whale,” comes as no...Show More Summary
It turns out he was trying to put the wrong people in jail.
Without a convincing cooperating witness, pursuing complex financial fraud prosecutions can be difficult.
Och-Ziff has all its eggs in one 34-year-old's basket; Justice Department gives up on London Whale traders; "brosectomies"; and more.
In seeking the dismissal of charges against Javier Martin-Artajo and Julien Grout, the Department of Justice said it "no longer believes that it can rely on the testimony" of Bruno Iksil, a cooperating witness who had been dubbed the London Whale, based on recent statements he made that hurt the case. Show More Summary
The U.S. government said Friday it is seeking dismissal of criminal charges against two ex-traders at JPMorgan Chase & Co. in a scandal that caused over $6 billion in losses … Click to Continue »
The move by prosecutors to dismiss the case against Javier Martin-Artajo and Julien Grout was another blow to the legacy of Preet Bharara, the former United States attorney in Manhattan.
In the latest confirmation that "justice" in the US has become a sordid farce when it comes to the banking elite, moments ago the following two headlines from Reuters hit: U.S. DECIDES TO DROP CRIMINAL CHARGES AGAINST FORMER JPMORGAN TRADERS JAVIER MARTIN-ARTAJO, JULIEN GROUT IN 'LONDON WHALE' CASE U.S. Show More Summary
Hedge funds cannot survive on fish and chips alone.
Today's Water Cooler: Dems deploy Blame Cannons for Ossoff loss, Kalanick defenestrated, London Whale, housing, shipping/retail concentration
Millions of traders lost serious money after the "London Whale" lost JPMorgan Chase & Co. billions in 2012. But now, the trader has finally broken his five-year-long silence. The post The Real “London Whale” Has Been Revealed – but He’s Already Gotten Away with It was originally published at The Wall Street Examiner. Follow the money!
Bruno Iksil has penned a novel-length denunciation of JPMorgan that alleges...something.
The outgoing comptroller of the currency, Thomas J. Curry, is known for overhauling the federal agency and its approach to bank regulation.
The London Whale tells his story; hedge funds step back from the edge; Americans are boning less; and more.
LONDON — Bruno Iksil, the trader dubbed "The London Whale" for his massive trading losses, says he would welcome a lawsuit so he can finally clear his name. Iksil was at the centre of the $6.2 billion (£4.3 billion) JPMorgan trading loss in 2012 when massive derivatives bets he made went sour. Show More Summary
Mismarking one's book, especially in illiquid, OTC securities usually for month-end, P&L purposes is nothing new. We noted it several years ago in the case of the JPM London Whale where, as we reported back in May 2012, JPM's CIO unit...Show More Summary
CalPERS tells its board that the very same lax risk management oversight structure that led to the London Whale fiasco is "best practice" when it clearly isn't.
Usually, when TBTFs get caught doing something either illegal or just plain stupid, no actual humans are penalized. What typically happens is there’s a yearslong investigation during which the handful of regulators and politicians whose...Show More Summary
Bruno Iksil "objects to London whale nickname"; Yahoo attempts to fend off activist investor; Zenefits tells employees "Do not use the stairwells to smoke, drink, eat, or have sex"; and more.