Wanted former JPMorgan trader held in Spain on fraud charges
29 Aug 2013 4:57 AM IST
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 USD 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, who asked not to be named. US federal prosecutors filed criminal charges on 14 August 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 USD 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, who asked not to be named. US federal prosecutors filed criminal charges on 14 August 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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