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Monday, Aug 12
Prosecutors, FBI add to scrutiny on JPMorgan over London Whale
- The U.S. attorney's office and the FBI are reportedly investigating JPMorgan (JPM) over the bank's London Whaling loss in a probe that could lead to a fine and a reprimand. Authorities could also force the bank to strengthen its internal controls.
- The probe adds to action from the SEC, as well as possible criminal indictments against two former JPMorgan employees.
- Prosecutors are also looking at whether JPMorgan should have alerted authorities about the suspicions of some staff that Bernard Madoff was running a Ponzi scheme.