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‘London Whale’ Has a New Target: J.P. Morgan’s Top Brass

JP Morgan CEO Jamie Dimon speaks at JP Morgan's corporate centre in Bournemouth, southern Britain, June 3, 2016. REUTERS/Dylan Martinez

Four years after agreeing to testify against two former traders, Bruno Iksil changed his story, prompting prosecutors to drop criminal case


The U.S. case against two former J.P. Morgan Chase & Co. traders charged with concealing billions of dollars in losses fell apart because a key witness known as the London Whale shifted blame to Chief Executive Officer James Dimon and other top executives, according to a person familiar with the matter.

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image: Dimon-Reuters-Dylan-Martinez