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FBI Is Looking Into Possible Criminal Charges Against Individuals At JPMorgan: Report

Report: The FBI Is Now Investigating JPMorgan
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The Federal Bureau of Investigation is looking into the possibility of leveling criminal charges against individuals at JPMorgan Chase, an unnamed source told Bloomberg News. The FBI is working alongside the Department of Justice in its probe of the bank's energy trades, which was announced on Monday.

JPMorgan, the nation's biggest bank by assets, is also facing a criminal investigation over its actions leading up to the financial crisis. The bank is now facing at least seven ongoing investigations, according to the Wall Street Journal.

You can find Bloomberg's full report here.

Reuters reported Monday:

(Reuters) - JPMorgan Chase & Co

The probe, which was said to be in early stages, is being handled by U.S. Attorney Preet Bharara in Manhattan, the newspaper said on its website. Bharara recently brought criminal charges against two former JPMorgan traders for understating losses from the bank's disastrous London Whale derivatives trades last year.

The Justice Department began the probe of JPMorgan's energy trades as the company agreed to pay $410 million to end an enforcement action by the Federal Energy Regulatory Commission, according to the report, which said the new probe is to include some of the same issues. It is not known if the investigation is civil or criminal, the newspaper said.

A JPMorgan spokesman declined to comment on the report. A Justice Department spokeswoman in Washington had no immediate comment.

Chief Executive Officer Jamie Dimon has publicly vowed to resolve the company's regulatory issues.

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Before You Go

10 Bankers Behind Bars
Bernie Madoff(01 of10)
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In what is now considered to be one of the biggest and most famous Ponzi schemes in history, Madoff laundered about $65 billion, Forbes reports. Madoff defrauded thousands of investors, all of whom can be found on a 163-page list. (credit:AP)
Rajat Gupta(02 of10)
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Ex-Goldman Rajat Gupta was sentenced to two years in prison for participating in one of the largest insider trading schemes in history. (credit:Getty Images)
Jerome Kerviel(03 of10)
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Kerviel was found guilty of one of the world's most colosal trading frauds in 2010. He cost France's Société Générale bank 4.9 billion Euros. He was sentenced to 3 years in jail and was also sentenced to paying a $7 billion fine, The Guardian reports. (credit:AP)
Steven Goldberg, Peter Grimm and Dominick Carollo(04 of10)
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Goldberg, Grimm and Carollo were found guilty of conning the I.R.S. and cities in a "bid-rigging scheme" during their time at General Electric, Businessweek reports.Goldberg was sentenced to four years in prison. Grimm and Carollo were each sentenced to three years. (credit:AP)
Raj Rajaratnam(05 of10)
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Raj Rajaratnam, the former head of Galleon Management, was sentenced to 11 years in jail in October 2011, the longest prison term for insider trading to date, The Washington Post reports. (credit:AP)
Nick Leeson(06 of10)
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During Nick Lesson's time at Bristain's Barings Bank, he lost 862 million pounds and even managed to level the 233-year-old bank itself, according to The Telegraph. He served four years in a Singapore jail before he was released early with life-threatening cancer. (credit:Getty Images)
Allen Stanford(07 of10)
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Currently serving 110 years in prison, Allen Stanford was, at one time, one of the richest men in America, according to CNBC. He conned about 20,000 investors out of their money in a Ponzi scheme. (credit:AP)
Garth Peterson(08 of10)
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Garth Peterson, the former head of Morgan Stanley's Chinese real-estate investments unit, was sentenced to 9 months in jail last August for bribery, according to The Wall Street Journal. (credit:AP)
Bradley Birkenfeld(09 of10)
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Bradley Birkenfeld spent more than 2 years in jail for assisting in income tax evasion while working at UBS. He then volunteered inside information on Swiss banking to the I.R.S., and was rewarded with $104 million for being a whistle-blower, according to The New York Times. (credit:AP)
Don Of Thieves(10 of10)
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Dennis Levine, Martin Siegel, Ivan Boesky and Michael Milken defrauded Wall Street investors in the 1980's. In a scandalous series of events, Levine stole confidential documents from Lazard Freres investment bank, and the crew made use of inside information, according to The Daily Beast. (credit:Getty Images)
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