The UK’s anti-fraud prosecutor, Serious Fraud Office (SFO) is liaising with US counterparts in their investigation into the US$6.2 billion losses incurred at JPMorgan Chase in 2012 by a trader dubbed as the ‘London Whale’.
The disclosure comes after the US Department of Justice (DoJ) brought criminal fraud charges against two London-based traders – Javier Martin-Artajo and Julien Grout, who allegedly masked the size of losses.
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The SFO said: "We are liaising with our US counterparts as well as the FCA over this case."
The FCA continues to investigate the bank over the losses. It has also kept the SFO abreast of developments.
The US SEC, Commodity Futures Trading Commission, and the UK FCA are also probing the losses.
Extradition requests by the US to the UK are exercised by the US State Department making a request to the so-called Central Authority, which is under the auspices of the Home Office.
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By GlobalData
