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Prosecutors and F.B.I. Examine JPMorgan Over Losses

Prosecutors and F.B.I. Examine JPMorgan Over Losses

As federal authorities prepare to charge criminally two former JPMorgan Chaseemployees suspected of misrepresenting a multibillion-dollar trading loss last year, prosecutors in Manhattan are separately exploring ways to penalize the bank over the trading blowup that has come to be known as the “London Whale.”

The investigation, according to people briefed on the matter, could yield a fine and a reprimand of the bank for allowing the suspected wrongdoing to occur. Prosecutors at the United States attorney’s office in Manhattan could also force the bank to bolster internal controls that failed to thwart the trading loss.

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