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U.S. seeks to drop criminal charges in 'London Whale' case
July 21, 2017 / 8:23 PM / in 3 months

U.S. seeks to drop criminal charges in 'London Whale' case

NEW YORK, July 21 (Reuters) - U.S. prosecutors on Friday said they plan to drop criminal charges against two former JPMorgan Chase & Co derivatives traders over allegations they had a role in the “London Whale” trading scandal that caused $6.2 billion of losses.

In a court filing, prosecutors requested a judge’s permission to dismiss charges against Javier Martin-Artajo and Julien Grout.

Prosecutors said their efforts to extradite the defendants have been unsuccessful or deemed futile, and that they no longer believe they can rely on testimony from Bruno Iksil, the trader who became known as the “London Whale,” to prosecute them. (Reporting by Jonathan Stempel in New York)

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