U.S. Said to Start Probe of $2 Billion JPMorgan Trading Loss
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The U.S. Justice Department and the Federal Bureau of Investigation in New York have begun a criminal probe of JPMorgan Chase & Co.’s $2 billion trading loss, a person familiar with the matter said.
The U.S. is looking into whether criminal wrongdoing occurred in relation to the losses the bank reported last week, said the person, who declined to be identified because the matter isn’t public. The inquiry is in its most preliminary stage, the person said.