Jp Morgan

week 3 Team Assignment
Team B
PHL 323
August 6, 2012
Jerome Strong


Week 3 Team Assignment
JP Morgan Chase, one of the largest cants in the United States, chief executive officer Jamie Dimon announced that a group of its brokers in London qualifying investment bets totaling $5.8 billion that was overseen by its Chief Investment policeman; Irvin Goldman, which is nearly three times the amount the ships company revealed to the sulfur in May. JP Morgan traders failed to report their unprecedented showtime quarter playing period losses to the SEC. Chase added that the bad investment trades could possible pass on in an additional $1.7 billion in losses for the company over the rest of the year (Damon and Grey, 2012.). JP Morgan Chase & Co. has since advised gravestone players that were involved in this scandal to seek legal assistance.
Irvin Goldman, who served as the Chief Risk Officer for JP Morgan Chase during the period when the barter loss occurred, has resigned and has hired a defense attorney to nominate him. According to Goldstein (2012), the top three London Whaler as referred to by the federal authorities, stated that these individuals tried to hide their first quarter filing losses of $459 million in trades from the Securities and trade Commission (SEC) are under investigation.



The three traders involved in this scandal are Bruno Iksil, Achilles Macris and Javier Martin. Bruno, Iksil, was responsible for the largest bets and trades that are tied to the company misfortune. Achilles Macris and Javier Martin were also involved in the scandal have lately left the bank and have hired legal representative.
The affair loss scandal is only the start of the crippling issues that moved(p) the operation of this company. JP Morgan Chase dysfunctional management was the start of the mega bank down fall into bollix upion. Scandals surface daily which reveal how corrupt numerous global financial systems really are. According to Goldstein (2012) the on-going investigations by federal authorities...If you want to get a adequate essay, order it on our website: Ordercustompaper.com



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