Former JPMorgan Chase employee Bruno Iksil will not be prosecuted by the Justice Department, the Wall Street Journal reports, citing a person close to the situation. Iksil is the so-called "London Whale" at the center of the trading scandal that lost JPMorgan, the country's biggest bank by assets, some $6.2 billion in 2012.
The New York Times reported Friday that U.S. authorities planned to arrest two former JPMorgan employees for their roles in the scandal, and Iksil will need to play a role in any arrests related to the trades, Reuters reported Thursday. The Journal reports that criminal charges could be filed as early as Wednesday.
Javier Martin-Artajo, one of two former JPMorgan employees that may be arrested, defended his name Tuesday and said he expects to be cleared of all charges.
You can read the entire story at the Wall Street Journal:
Breaking: Justice Department has agreed not to prosecute "London whale." http://t.co/k17jqnCv5P
— Wall Street Journal (@WSJ) August 13, 2013