On Tuesday, the New York office of the FBI opened an investigation into JPMorgan
It took less than an hour for JPMorgan Chase's CEO Jamie Dimon to dispatch a relatively tame group of shareholders at the bank’s annual meeting in Tampa on Tuesday.
That was the easy part.
Now, the bank’s combative CEO faces two government inquiries and a substantial legal liability from angry investors who have lost more than $20 billion after a series of risky bets inflicted at least $2 billion in losses on the nation’s largest – and once most-admired - bank.
On Tuesday, the New York office of the FBI opened an investigation into JPMorgan’s ill-fated trading scheme, a source familiar with the probe told Reuters. The source, who requested anonymity because the investigation is ongoing, said the probe was in a "preliminary" stage.
The investigation follows a separate inquiry by regulators at the Securities and Exchange Commission, first reported in early April, into JPMorgan's accounting practices. When JPMorgan reported its quarterly earnings on April 13, Dimon dismissed those reports as “a tempest in a teapot.”
http://marketday.msnbc.msn.com/_news/2012/05/15/11718677-jpmorgans-dimon-escapes-the-frying-pan-but-faces-the-fire?lite
