Reuters: Regulatory News: UK's Serious Fraud Office liaising with U.S. on 'London Whale' case

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UK's Serious Fraud Office liaising with U.S. on 'London Whale' case Aug 21st 2013, 22:16 Wed Aug 21, 2013 6:16pm EDT Aug 21 (Reuters) - Britain's Serious Fraud Office is liaising with U.S. counterparts in their investigation into the scandal linked to a trader dubbed the "London Whale" that cost JPMorgan Chase & Co $6.2 billion last year, the government department said on Wednesday. "We are liaising with our U.S. counterparts as well as the Financial Conduct Authority over this case," a Serious Fraud Office spokeswoman said. U.S. prosecutors brought criminal charges last week against two former J.P. Morgan employees, Javier Martin-Artajo and Julien Grout, alleging they deliberately tried to hide hundreds of millions of dollars in losses. Losses from the trades, which were made in the London division of J.P. Morgan's Chief Investment Office, first became public in April 2012. Since then, the bank has conducted an internal investigation and regulators in the United States and the UK have opened their own inquiries.

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