US to drop charges against 2 in London Whale scandal

New York

AN effort to hold someone accountable for JPMorgan Chase's loss of more than US$6 billion in the London Whale trading scandal is coming to an end, with federal prosecutors in Manhattan moving on Friday to dismiss all criminal charges against two former bank employees.

The prosecutors filed a motion to dismiss charges against the bank employees, Javier Martin-Artajo and Julien Grout, saying that recent statements by a key cooperating witness, Bruno Iksil, had thrown the reliability of his testimony into doubt.