FBI Said to Hunt for Criminal Acts in JPMorgan Bid Probe
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A Justice Department probe of JPMorgan Chase & Co.’s energy-trading practices is examining whether criminal laws were violated by individuals, a person briefed on the matter said.
The Federal Bureau of Investigation is working with U.S. Attorney Preet Bharara, said the person, who asked not to be named because the review isn’t public. Bharara’s inquiry, reported by the Wall Street Journal and Bloomberg News earlier this week, focuses on conduct outlined last month in the bank’s $410 million civil settlement with the Federal Energy Regulatory Commission. The FERC had accused the bank of manipulating power markets in California and the Midwest.