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JP Morgan Investigated for Currency Rigging

Money Picks

As if JPMorgan’s Jamie Dimon didn’t have enough on his plate in the aftermath of the London Whale scandal, currently Dimon is battling throat cancer, and last year had to settle $13 billion with the Department of Justice over the bank’s role in the mortgage crisis.

Now it JPMorgan is being investigated in its possible involvement in rigging currency rates, as reported by the New York Post. Citigroup and HSBC are also under scrutiny. JPMorgan is likely to lose close to $6 billion in legal fees because of the multiple investigations. The Commodity Futures Trading Commission and foreign regulators are also involved in the investigation.

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