Legal News

JPMorgan Sues Bruno Iksil, The London Whale Boss, over $6.2B in Losses
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

JPMorgan Chase & Co has lost a lot of money on trading and is out to punish those responsible. Specifically, they are going after the executive who supervises Bruno Iksil, also known as “The London Whale,” whose market play and wager losing has cost $6.2 billion in trading loss. They have taken his manager to a British Court for their losses.

Javier Martin-Artajo was Iksil’s immediate supervisor and is the defendant in October 22’s suit. Details are sketchy on the suit, but the botched bets are leading to some management reshuffling as certain investment officers such as Ina Drew and Barry Zubrow are retired, as an internal probe will find out what went wrong with the colossal trading failures, and as JPMorgan attempts some claw back to reclaim what money they can.

Iksil, Martin-Artajo, and Achilles Macris were overseers of the trades. Martin-Artajo has been found to have put higher values on his trade than could have been fetched on the open market, as was discovered in August. JPMorgan is facing regulatory probes over the group’s trading because of issues such as these.

  
What
Where


Details of the case will not be released until the defendant acknowledges the claim, and as of yet JPMorgan’s spokespersons have declined to comment, as has Martin-Artajo’s lawyer.



 

RELEVANT JOBS

Associate Attorney

USA-PA-Exton

ASSOCIATE ATTORNEY McKenna Snyder LLC, a law firm in Exton, PA has an immediate opening for an ex...

Apply now

Attorney

USA-MI-Sturgis

Qualifications: HaasCaywood is seeking associate attorneys for our Coldwater and Sturgis, Michiga...

Apply now

Attorney

USA-MI-Coldwater

Qualifications: HaasCaywood is seeking associate attorneys for our Coldwater and Sturgis, Michiga...

Apply now

Deputy General Counsel / Senior Deputy General Counsel

USA-CA-Sacramento

Cal Cities Culture and Mission Cal Cities is dedicated to creating a collaborative and inclusive ...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Education Law Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with ...

Apply Now

Education Law Attorney

USA-CA-Carlsbad

Carlsbad office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with 4-...

Apply Now

Education Law and Public Entity Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law and public ent...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top