$6.2-bn JPMorgan scam accused held in Spain
28 Aug 2013 11:15 PM GMT
Spanish police on Tuesday arrested a former JPMorgan bank trader wanted by the United States to face criminal charges in the massive 'London Whale' fraud scandal.
Officers arrested Spanish national Javier Martin-Artajo Rueda on an international warrant by the United States for alleged fraud and tax crimes, police said in a statement.
He is accused of being the senior figure in the 2012 trading scandal involving $6.2 billion (4.6 billion euros) in trading losses at the US banking giant.
'The detainee is suspected of being responsible for manipulating and inflating the value of positions on his firm's credit portfolio,' the statement said.
The suspect went before a judge at the National Court in Madrid, who granted him bail pending a ruling on extradition after Martin-Artajo did not consent to be extradited voluntarily, a judicial source said. He was released on condition that he check in with the court every two weeks and was banned from leaving Spain, said the source. US federal prosecutors filed criminal charges against Martin-Artajo and Frenchman Julien Grout, alleging they kept false records on trades, committed wire fraud and submitted false US securities filings.
Officers arrested Spanish national Javier Martin-Artajo Rueda on an international warrant by the United States for alleged fraud and tax crimes, police said in a statement.
He is accused of being the senior figure in the 2012 trading scandal involving $6.2 billion (4.6 billion euros) in trading losses at the US banking giant.
'The detainee is suspected of being responsible for manipulating and inflating the value of positions on his firm's credit portfolio,' the statement said.
The suspect went before a judge at the National Court in Madrid, who granted him bail pending a ruling on extradition after Martin-Artajo did not consent to be extradited voluntarily, a judicial source said. He was released on condition that he check in with the court every two weeks and was banned from leaving Spain, said the source. US federal prosecutors filed criminal charges against Martin-Artajo and Frenchman Julien Grout, alleging they kept false records on trades, committed wire fraud and submitted false US securities filings.
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