The Department of Justice (DOJ) announced Tuesday afternoon that it will launch an investigation into JP Morgan Chase’s $2 billion derivatives trading loss, according to a law enforcement official.
The official, who according to Reuters spoke on the condition of anonymity since the decision was originally private, said the investigation was in its early stages and did not cite if any laws were violated.
The DOJ’s decision was made after JP Morgan Chase’s shareholders voted to allow CEO Jamie Dimon to keep his $23 million paycheck and his chairmanship.
Andrew Jones is a staff writer/reporter for Raw Story. Besides covering politics, he is also a freelance sports journalist, as well as a slam poetry and music artist. You can follow him on Twitter @sluggahjells.
Raw Story is a progressive news site that focuses on stories often ignored in the mainstream media. While giving coverage to the big stories of the day, we also bring our readers' attention to policy, politics, legal and human rights stories that get ignored in an infotainment culture driven solely by pageviews.
Founded in 2004, Raw Story reaches 9 million unique readers per month and serves more than 30 million pageviews.