Spain Court Blocks Bid to Stop Martin-Artajo Extradition Process

Spain’s Supreme Court rejected a bid by former JPMorgan Chase & Co. (JPM) trader Javier Martin-Artajo to thwart efforts to extradite him to the U.S.

Martin-Artajo’s lawyers had sought a ruling suspending a cabinet decision allowing his extradition case to proceed to court, arguing that under a 1985 law he couldn’t be sent abroad because he’s a Spanish national. The Supreme Court rejected the request and ordered the proceedings to continue, according to a copy of the ruling sent by the tribunal by e-mail today.

The National Court in Madrid said on Oct. 29 it had received papers requesting Martin-Artajo’s extradition to the U.S. following the cabinet’s decision. Judge Santiago Pedraz has ordered Martin-Artajo to court on Nov. 8 to ask him if he consents to extradition as proceedings get under way.

Martin-Artajo turned himself in to police in August and was released by the National Court pending an extradition request. The Spanish citizen, who oversaw synthetic credit trading at JPMorgan’s chief investment office in London, was indicted in the U.S. last month for engaging in a securities fraud to hide losses stemming from trades by Bruno Iksil, the Frenchman at the center of the case who became known as the London Whale.

Martin-Artajo’s lawyer, Lista Cannon at Norton Rose Fulbright LLP in London, wasn’t immediately available to comment when contacted by phone and e-mail by Bloomberg News.

To contact the reporter on this story: Charles Penty in Madrid at cpenty@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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