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Criminal probe into $2B trading loss at JPMorgan

May 15, 2012

The Justice Department has initiated a criminal probe into the JPMorgan Chase’ $2 billion trading loss revealed last Thursday, according to a law enforcement source familiar with the situation.

The news came as Jamie Dimon, the embattled chief executive of JPMorgan Chase, faced questions from shareholders Tuesday.

Standard & Poor’s and Fitch Ratings last Friday downgraded J.P. Morgan Chase rating because of the $2 billion loss on derivatives

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