Justice Department Investigating JP Morgan

by philbalbo on June 11, 2012

  • SumoMe

Written by Phil Balbo, staff writer and law clerk. For more information about white collar crimes and some of the penalties associated with them, please visit the Federal Criminal Lawyer site. Please visit Wikipedia to read more about financial regulation.

With federal regulators and investigative agencies coming down hard on financial crimes, including securities and bank fraud, it is of little surprise that J.P. Morgan is facing criminal probes in the wake of its recent trading loss of over $2 billion. With news that the loss may actually come close to $3 billion by June, the Securities and Exchange Commission and the U.S. Department of Justice (DOJ) have each launched investigations related to the enormous loss, with the DOJ investigation headquartered in the Federal Bureau of Investigation’s New York field office. At this point, it is too early in the investigation to know for precisely what legal violations the financial firm is being investigated.

DC white collar defense attorneys are following the developments, understanding that government agencies and federal regulatory bodies are taking a tough stance against securities fraud and banking crimes. Since the financial crisis hit the economy in force several years ago, the federal government’s regulatory and investigative arms have been urged to pursue any and all leads regarding potential wrongdoings in the financial sector. In addition, some groups have been pressing for tougher sanctions on those accused of financial crimes, even if those actively attempting to engage in criminal activity see no financial gain in the end. According to top government officials, J.P. Morgan’s multi-billion dollar loss has refueled debate related to financial regulation, federal government investigations, and whether or not agencies, as they now stand, are properly equipped and able to keep tabs on the complex trades often executed by large investment houses.

If you are facing allegations of financial fraud, bank fraud, or securities fraud, you arere no doubt quite concerned about your future. While white collar crimes are non-violent, they are still prosecuted vigorously and may carry penalties such as large fines and prison sentences. Whether or not an individual has actually committed the crime for which they are under examination, an SEC and DOJ investigation alone can be incredibly damaging. If you are currently under investigation for a white collar crime in Washington, DC, you are advised to consult with an experienced District of Columbia white collar attorney as soon as possible.




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