Taped Phone Calls Help FBI Build Case Against Traders for JPMorgan Chase

Steve Neavling

 The FBI appears to be closing in on JPMorgan Chase traders in connection with a multibillion-dollar trading loss, the New York Times reports.

Using phone recordings turned over by JPMorgan, the FBI is focusing on at least four London-based traders who were responsible for the $6 billion loss, the Times reported.

Feds are trying to determine whether traders discussed how to influence market prices as their bets nosedived, according to the Times, citing officials briefed on the case.

Investigators also are examining whether records were falsified to hide the problems from JPMorgan executives in New York.

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