U.S. re­quests to drop case of 2 traders

Northwest Arkansas Democrat-Gazette - - BUSINESS & FARM -

The U.S. is mov­ing to drop charges against two for­mer JPMor­gan Chase & Co. traders ac­cused of hid­ing more than $6.2 bil­lion in losses af­ter it failed to ex­tra­dite the two men.

Pros­e­cu­tors in New York’s Man­hat­tan bor­ough on Fri­day asked a judge to dis­miss the case against Javier Martin-Ar­tajo and Julien Grout, who live out­side the U.S. They also said they could no longer rely on state­ments by Bruno Ik­sil, the French­man at the cen­ter of the case who was dubbed the “Lon­don Whale,” on the ba­sis of his re­cent state­ments and writ­ings that hurt the case.

Pros­e­cu­tors an­nounced their re­quest to dis­miss charges in a news re­lease late Fri­day af­ter­noon. Joe Evan­ge­listi, a spokesman for the bank, de­clined to com­ment on the de­ci­sion.

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