NEW YORK (Reuters) - JPMorgan Chase & Co must face a lawsuit in which shareholders accused it of concealing risks that surfaced when it lost at least $6.2 billion in 2012 over trades made by Bruno Iksil, the so-called London Whale.
In a post earlier this year, I asked whether the “London Whale,” Bruno Iksil, a London-based derivatives trader for JPMorgan Chase, who racked up billions of dollars in losses early last year, would end up swallowing Jamie Dimon, the chairman and chief executive of the bank, which is America’s largest. Show More Summary
NEW YORK (Reuters) - A lawyer for a former JPMorgan Chase & Co employee who worked with "the London Whale" Bruno Iksil has been trying to convince U.S. prosecutors to drop criminal charges against his client, Julien Grout, a source familiar with the matter said on Friday.
London Whale trader Bruno Iksil dodged criminal charges by ratting out his two colleagues, as the JPMorgan trading debacle continues.
``The actual employee known as the London Whale, Bruno Iksil, also a Frenchman, has been cooperating with prosecutors and may escape charges or receive a lesser charge than the other two, according to reports. Iksil received the moniker,...Show More Summary
Prosecutors also announced they had agreed not to prosecute Bruno Iksil, the trader who allegedly made the bad bets.
Bruno Iksil, the former JPMorgan Chase & Co. trader whose bets caused more than $6.2 billion in losses last year, is now central to any U.S. charges against his former colleagues. Mr. Iksil, the Frenchman who became known as the London...Show More Summary
Former JP Morgan trader Bruno Iksil — dubbed the London Whale for the colossal $6.2 billion trading loss last year — has been cooperating with the FBI and the U.S. Attorney's Office for months as regulators pry further into the bank,...Show More Summary
Just like Breaking Bad, the most exciting trading drama of 2012 is coming to an end. But while the man in the center of the biggest prop trading fiasco to ever take place at JPMorgan, the "London Whale" himself Bruno Iksil, is set to...Show More Summary
NEW YORK (Reuters) - The trader at the center of JPMorgan Chase's $6.2 billion trading loss last year will not face charges related to the incident, a source familiar with the matter said on Thursday.
As part of the Appendixed disclosures in the aftermath of JPM's London Whale fiasco, we learned the source of funding that Bruno Iksil and company at the firm's Chief Investment Office used to rig and corner the IG and HY market, making...Show More Summary
$$$ New York Sues HSBC [WSJ] $$$ “We are dead I tell you,” Bruno Iksil, a London-based trader at JPMorgan Chase & Co. (JPM), messaged an associate on March 23, 2012. “It is hopeless now.” Iksil, a Frenchman who would soon become known as the London Whale because of the size of his trades, had… Continue reading » Follow Dealbreaker on Twitter or become a fan on Facebook.
The first scapegoat is out, and contrary to expectations, no it was not Fabrice Tourre and Bruno Iksil: IRS ACTING COMMISSIONER HAS RESIGNED OBAMA SAYS IRS ACTING COMMISSIONER GAVE RESIGNATION TO LEW It is unclear as of this writing what the severance package, and how big the (tax-free of course) lifetime public pension will be. Show More Summary
NEW YORK (Reuters) - A bankruptcy judge on Wednesday gave creditors of Lehman Brothers the green light to subpoena former JPMorgan Chase & Co trader Bruno Iksil, the so-called "London Whale," in an $8.6 billion lawsuit against the bank, a Lehman spokeswoman said.
The name Christian Bittar is well-known to regular Zero Hedge readers. Recall from "Deep Into The Lieborgate Rabbit Hole: The Swiss Hedge Fund Link?": " just like in the case of Barclays (with Diamond), JPM (with Bruno Iksil), UBS (with Kweku) and Goldman (with Fabrice Tourre), there always is a scapegoat. Show More Summary
LONDON, Jan 16 (Reuters) - JPMorgan Chase & Co has reached an out-of-court settlement over its lawsuit against the former boss of Bruno Iksil, the trader known as the "London Whale" for huge bets he took that cost the bank $6.2 billion,...Show More Summary
It’s the trading mess that just won’t end. If we all didn’t know better, it would be easy to think that the “Whale” that has caused so much trouble for JPMorgan Chase & Co. (NYSE:JPM) and CEO Jamie Dimon was not named Bruno Iksil but Moby Dick. Bloomberg reported earlier this week that the JPMorgan [...]
I didn’t really understand this morning’s Journal headline – “Regulatory ‘Whale’ Hunt Advances” – since the whale in question, JPMorgan’s Bruno Iksil, has been caught, harpooned, killed, flensed, picked clean by sharks, and his skeleton mounted in the American Museum of Unfortunate Trades. Show More Summary
Javier Martin-Artajo, meet underside of bus. Martin-Artajo, a London-based former JPMorgan Chase executive who supervised Bruno "London Whale" Iksil in the bank's chief investment office, is being sued by his former employer for allegedly helping conceal the Whale's massive losses, which have amounted to at least $6 billion. The details ... More »
JPMorgan Chase is suing Javier Martin-Artajo, the manager who directly supervised Bruno Iksil, the so-called London Whale whose outsize positions prompted the bank's multi-billion dollar trading loss.