Breaking reports indicate the London Whale, JPM’s ‘Achilles Heel’ and two other members of JPM’s CIO team face imminent CRIMINAL CHARGES over JPM’s CIO derivatives debacle. It wouldn’t surprise us if Mr. Dimon himself convinced authorities to bring charges simply to further extricate himself from the implications of the alleged criminal falsification of JPM’s financial statements (which Mr. Dimon would have signed off on).
Federal authorities are using taped phone conversations to build criminal cases related to the multibillion-dollar trading loss at JPMorgan Chase, focusing on calls in which employees openly discussed how to value the troubled bets in a favorable way.
Investigators are looking into the actions of four people who previously worked for the team based in London responsible for the $6 billion loss, according to officials briefed on the case. The Federal Bureau of Investigation could make some arrests in the next several months, said one person who spoke on the condition of anonymity because the inquiry was ongoing.
The phone recordings, which were turned over to authorities by JPMorgan, have helped focus the investigation, the officials said.
The investigation centers around FALSE financial statements submitted to regulators:
Authorities are examining how some traders in the chief investment office influenced market prices as their bets began to sour. Investigators are also looking into whether records were falsified to hide the problems from executives in New York. Based on those records, JPMorgan submitted inaccurate financial statements to regulators, another area of focus for investigators.
While the CEO himself would have signed off on those false financial statements, the investigation is reportedly limited 4 individuals on the CIO team, including the London Whale and JPM’s Achilles Heel themselves:
Attention is centered on four people: Javier Martin-Artajo, a manager who oversaw the trading strategy from the bank’s London offices; Bruno Iksil, the trader known as the London Whale for placing the outsize bet; Achilles Macris, the executive in charge of the international chief investment office; and a low-level trader, Julien Grout, who worked for Mr. Iksil and was responsible for marking the trading book.
The stench is so rotten that even the head of the entire CIO office is being thrown under the bus to keep the scrutiny off of the real big-wigs such as Dimon.
Mr. Presidential cufflinks himself obviously has nothing to worry about:
The scope of the inquiry suggests that the problems were isolated to a handful of executives and traders in an overseas division, and did not reflect a fundamental weakness with the bank’s culture and leadership.
Right…the losses obviously had nothing to do with the senior executives that signed off on the directional positions and strategies as well as financial statements. Funny how emails and phone conversations from the CEO and the CIO team simply must not exist.
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Wouldn’t it be ironic if the criminals (Whale and Achilles) become heroes if the CIO losses sink JP Morgan?
Its typical – they will sacrifice some lower level minions to divert the light from the real CRIMINALS!
Dimon should be the first to hang and his friends that gave him the cufflinks should be next!
No- one is being punished for anything – LIBOR doesn’t affect little old me! Bankers are only trying their best in hard economic times – GIVE ME A F%$#@ING break! What happened to common sense!
Nothing will change – NOTHING – until people see the game for what it is
Take your country back and realize the scam that is the FED and the bigger scam that is American Politics!
They know the time is near-
They have been preparing for your awakening
The FEMA camps are just the tip of the iceberg and if you seriously think anyone in Government has your best interests at heart – I have some swamp land you might be like to invest in!
Agree OPS, a few minor minions will be scapegoats. As far as Dimon, Corzine, etc., being indicted by the Feds, I will believe it when I see it.
Teflon Jamie, everyone’s favorite Gangsta.
@ Silver! Let us not forget John Corzine!!!!
The Empire is burning. It’s only logical for the insiders to take whatever they can while they still can.
Jamie is still at the steering wheel of the burning empire and that is sick. He sees the escape ways are closing but he is still calculating how long should he stay knowing that the jig is up and he has to go.
He’s got enough for him and others around him to live in an own paradise island for the rest of their lives. The gambling addict just can’t let go.
Too big to jail, they will get their sentence in the after life. Hope you like fire Jamie, Lloyd and the gang.
Hope one of the ones being investigated turns inside witness and takes down Dimon and company.
Take down one of the bankstas and he will sing like canary to save his own ass!
And who exactly is going to “take down the bankstas?” :P
We will! We the people if the majority of the people awakes and realize that gold and silver are important. Gold and silver are the Worldwide Revolution and not just the Second American Revolution. By buying physical gold and silver, you are not accepting the bank’s corrupt paper currency.
@sumkid:
Everywhere is freaks and hairys
Dykes and fairies
Tell me where is sanity?
Tax the rich, feed the poor
Till we run out, rich no more
I’d love to change the world
But I don’t know what to do
So I’ll leave it up to you
Population, keeps on breedin’
Nation bleedin’, still more feedin’
Economy
Life is funny, skies are sunny
Bees made honey, who needs money?
Monopoly
I’d love to change the world
But I don’t know what to do
So I’ll leave it up to you
(Rich or poor)
(It’s your fault)
(Screw you)
More pollutions, there’s no solutions
Restitution, mass confusions
Spread the word
Rich or poor
Save the earth
Stop the war
(And we’ve got nothin’ to do)
(Just turn on)
I’d love to change the world
But I don’t know what to do
So I’ll leave it up to you
Just turn me on.
@Crissy I searched the song and I found this video below:
I never heard of it since it was made in the 1970′s and I wasn’t even born at that time. Nowadays, popular songs don’t make any sense while before, they did.
Nobody dude,sad man real sad.
Just stop playing with their confetti!
What the heck! How can four people lose six billion dollars? This makes me wonder what kind of people are doing important decisions in this world. Are these kind of people, stupid, thieves, etc or are they doing that on purpose?