The SEC on Friday dropped its civil suit against two JPMorgan Chase (JPM) - Get JPMorgan Chase & Co. Report traders who tried to cover up the now notorious $6.2 billion "London Whale" trading loss, the New York Post reports.
The SEC stopped pursuing both Javier Martin-Artajo and Julien Grout, following a change in testimony from a third trader. The change of story led prosecutors to drop the criminal case against Martin-Artajo and Grout.
Bruno Iksil, the London Whale, was the London trader who took most of the responsibility for substantial trading losses. His testimony a month ago led the Justice Department top drop its criminal case against Martin-Artajo and Grout.
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