Wall Street Bosses Escape Criminal Charges
August 18, 2013
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4:30Now PlayingWall Street Bosses Escape Criminal Charges
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as posted by the channel"It's not a good time to be a mid-level employee at a major Wall Street bank. A few weeks after Goldman Sachs' "Fabulous" Fabrice Tourre was found guilty of securities fraud by a New York jury, JPMorgan's Javier Martin-Artajo and Julien Grout were criminally accused by federal authorities of wire fraud and several other charges including conspiracy to commit crimes for their involvement in the London Whale case. The most prominent figure in the whole ordeal, French trader Bruno Michel Iksil, didn't face any charges, after having turned on his colleagues, signing a non-prosecution agreement with the United States Attorney's Office.
Jamie Dimon, who had called the London Whale ordeal "a tempest in a teapot," and Ina Drew, who supervised the Chief Investment Office (CIO) where the $6.2 billion losses occurred, weren't named in the lawsuit."* The Young Turks host Cenk Uygur breaks it down.
Read more here from Agustino Fontevecchia / Forbes:
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