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

Attorney/Litigation - Reno, NV

USA-NV-Reno

The Reno, NV office of Blanchard, Krasner & French seeks associate attorney with a minimum of 5+ yea...

Apply now

Attorney / Transactional - Reno, NV

USA-NV-Reno

The Reno, NV office of Blanchard, Krasner & French seeks associate attorney with a minimum of 5+ yea...

Apply now

Business Manager for Top Law Schools- Remote Position

USA-UT-Ephraim

We are looking for a dynamic, committed, hard-working recent law school graduate who wants to gain b...

Apply now

Business Manager for Top Law Schools - Remote Position

USA-NV-Las Vegas

We are looking for a dynamic, committed, hard-working recent law graduate who wants to gain broad-ba...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Corporate/Transactional Attorney

USA-IA-Des Moines

Des Moines office of a BCG Attorney Search Top Ranked Law Firm seeks corporate/transactional attorne...

Apply Now

Corporate Attorney / Counsel

USA-NY-New York City

New York City office of a BCG Attorney Search Top Ranked Law Firm seeks corporate attorney with 5+ y...

Apply Now

Housing Finance Associate Attorney

USA-MN-Minneapolis

Minneapolis office of a BCG Attorney Search Top Ranked Law Firm seeks a housing finance associate at...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top