• The post you are reporting:
   
  Our financial sector is not helping our businesses or economy to grow and the number of rotten apples is
  
  on the increase......
  
  Courtesy Independent....
  
  London traders 'face arrest' over £4bn bank loss
  
  US agents to seek extradition of two former JPMorgan Chase bankers accused of cover-up
  
  London's reputation as a global financial centre is poised to be tarnished further after it emerged
  
  last night that two former employees of a major US bank are suspected of concealing a near £4bn
  
  trading loss from the heart of its UK operation in Canary Wharf.
  
  Two former employees of JPMorgan Chase are expected to be arrested in London this week,
  
  according to US reports. Federal investigators said the men are suspected of trying to cover up
  
  a $6bn trading loss last year. The loss, disclosed in 2012, was an embarrassment for the US's
  
  biggest bank and raised concerns about risk-taking on Wall Street four years after the financial crisis.
  
  A federal grand jury voted to indict both men on criminal fraud charges, according to The New
  
  York Times. Reports linked the charges to evidence provided by Bruno Iksil, a trader at
  
  JPMorgan in London who placed the large bets that led to the loss. Mr Iksil, who was dubbed the
  
  London Whale, is not the subject of any investigation the reports said.

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