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An estimated trading loss of $2 billion was announced. However, the loss amounted to more than $6 billion for JPMorgan Chase. [2] [3] These events gave rise to a number of investigations to examine the firm's risk management systems and internal controls. JPMorgan Chase agreed to pay $920 million in total fines to US and UK authorities.
JPMorgan Chase is paying $348 million in fines to US regulators for alleged failures to monitor the trading of its clients and employees, one of the largest such penalties paid by any lender so ...
When the U.S. Department of Justice charged a handful of JP Morgan Chase & Co traders in 2018 and 2019 with alleged commodities futures manipulation, it wasn't the first time the government had ...
The forex scandal (also known as the forex probe) is a 2013 financial scandal that involves the revelation, and subsequent investigation, that banks colluded for at least a decade to manipulate exchange rates on the forex market for their own financial gain.
(Reuters) -The closely watched criminal trial of three former JPMorgan Chase & Co employees kicked off on Friday, with a prosecutor saying they "ripped off" the precious metals futures market with ...
The complaint alleges JP Morgan and the Bank of New York as well as powerhouse accounting firm KPMG and their international counterparts, KPMG UK and KPMG International were primary players necessary to accomplish the fraud." [119] [120] On December 2, 2010, Picard sued JPMorgan Chase, seeking damages and restitution of at least $6.4 billion.
Timur Emek, dapd/AP By Christopher Harress A deal has been agreed that will ensure the "London Whale," former JPMorgan Chase (JPM) trader Bruno Iksil, won't face criminal charges after he agreed ...
Andrew Maguire is a British commodities trader and whistleblower. He presented evidence to United States regulators alleging that fraud had been committed, and that prices in the international gold and silver markets had been manipulated. No regulatory or legal action has been taken as a result of his accusations.