Six Indicted in Wall St. Stock Loan Probe

The indictment alleged that "Trader B" caused JP Morgan to loan the securities at below market rates to intermediary brokerage firms including a firm identified as IBC located in the Netherlands Antilles, after the transfers occurred IBC spread the finder fees to Johnson and the JP Morgan trader.

"Johnson and Trader B entered into these financial arrangements without the knowledge or approval of JPMorgan Chase," the indictment noted.

A spokesman for JP Morgan declined to comment on the matter.

To date, 18 defendants have pleaded guilty in the investigation included former employees at A.G. Edwards, Oppenheimer & Co., Morgan Stanley; TD Waterhouse Kellner Dileo & Company, Inc.; Inc, Nomura Securities International, Inc.; PFPC Worldwide Inc.; Schonfeld Securities, LLC; and Van der Moolen Specialists.

-- This embed didnt make it to copy for story id = 4911260. -- This embed didnt make it to copy for story id = 4911260. -- This embed didnt make it to copy for story id = 4911260. -- This embed didnt make it to copy for story id = 4911260. -- This embed didnt make it to copy for story id = 4911260. -- This embed didnt make it to copy for story id = 4911260.
Page
  • 1
  • |
  • 2
Join the Discussion
You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus
 
You Might Also Like...
See It, Share It
PHOTO: The fake baby a man was carrying as he and another woman tried to sneak into the mother and baby unit at Mercy Medical Center in Merced, Calif., hospital officials said.
Dignity Health Security/Mercy Medical Center Merced
PHOTO:
dpa, Jens Wolf/AP Photo
PHOTO: U.S. Customs and Border Protection officers at the George Bush Intercontinental Airport in Houston stopped a would be smuggler from bringing nearly 7 ounces of cocaine into the country in tamales, Aug. 22, 2014.
U.S. Customs and Border Protection
PHOTO: Giant panda Bao Bao celebrates her first birthday at the Smithsonians National Zoo, Aug. 23, 2014.
David Galen, Smithsonians National Zoo