14 August 2013 Last updated at 10:38 ET
JP Morgan lost $6.2 billion on trades by the "London whale"
US authorities have charged two JPMorgan Chase traders with fraud in connection to the $6.2 billion "London whale" trading losses.
The charges against Javier Martin-Artajo and Julien Grout allege they tried to hide millions of dollars.
They are accused of keeping false records on the trades and committing wire fraud.
The bank suffered the multi-billion dollar loss after trades made by the so-called London Whale went bad.
London-based derivatives trader Bruno Iksil earned the nickname due to his big bets on financial derivatives markets.
Source: BBC News - Business http://www.bbc.co.uk/news/business-23692109#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
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