London Whale’s former boss set to be arrested

 
Tim Wallace
Follow Tim
AN ARREST warrant has been issued for the supervisor of the so-called London Whale trader, the authorities revealed yesterday.

Prosecutors from the US attorney’s office are believed to be pushing for the arrest of Javier Martin-Artajo, claiming he tried to cover up the scale of the losses.

Former trader Bruno Iksil built up derivatives positions that ended up losing JP Morgan more than $6bn (£3.9bn).

Martin-Artajo and another ex-trader Julien Grout are suspected of trying to hide the losses, which senior executives became aware of last year.

All three were fired by the bank last year and have had some of their bonuses clawed back.

The Metropolitan Police declined to comment on the case until any arrest is made.

But a source confirmed the US authorities had issued the warrant.