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The Boston Globe


US charges two former JPMorgan employees

Federal authorities announced criminal charges on Wednesday against two former JPMorgan Chase & Co. employees accused of disguising losses on a trade that spun out of control last year, a rare show of government force against Wall Street risk-taking.

The former JPMorgan employees — Javier Martin-Artajo, a manager who oversaw the trading strategy, and Julien Grout, a low-level trader in London — were charged with wire fraud, falsifying bank records, and contributing to false regulatory records. The government also charged them with conspiracy to commit those crimes.

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