US won't prosecute ex-JPMorgan trader Iksil

GMT 22:09 2013 Tuesday ,13 August

Arab Today, arab today US won\'t prosecute ex-JPMorgan trader Iksil

Arab Today

The ex-JPMorgan Chase trader nicknamed "the London Whale" for his huge derivatives losses has reached a deal to avoid US prosecution, a source familiar with the situation said Tuesday. Bruno Iksil, who along with others has been blamed for big bets that resulted in a $6.2 billion loss for the bank in 2012, reached the deal after agreeing to testify in the case. Criminal indictments against two other ex-JPMorgan traders could come later this week.

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