(USA TODAY) Two former JPMorgan Chase employees accused of helping to hide mammoth losses at the bank in 2012 will be arrested in London in the next few days, the New York Times reported Friday on its website.
The Times quoted unnamed sources in its report, saying Javier Martin-Artajo, a London trading manager, and Julien Grout, a lower-level trader, will be arrested and could possibly be extradicted to the U.S.
HEARING: Senate holds hearing on 'London whale' losses
U.S. authorities reportedly declined comment on the case Friday, which has tarnished the bank's reputation and added to a long list of allegations and convictions of undersupervised employees making failed high-risk bets with customer and bank money. In the JPMorgan Chase, failed trades resulting in losses of more than $6 billion occurred before bank management and regulators stepped in.
Most of the information about the case has come from Bruno Iksil, a former JP Morgan trader, who was dubbed the "London Whale."