NY FBI Opens Inquiry into JPMorgan Chase Loss: Sources

The FBI is taking a preliminary look at the incident, NBC 4 New York has learned

View Comments ()
|
Email
|
Print

    NEWSLETTERS

    AP

    The FBI in New York has opened an inquiry into JP Morgan Chase's $2 billion loss, NBC 4 New York has learned.

    People familiar with the matter tell NBC 4 New York that the inquiry is not a criminal investigation. The FBI is taking a preliminary look at the incident.

    JPMorgan Chase CEO Jamie Dimon disclosed last week that the bank had lost the $2 billion by making a bad bet with so-called credit derivatives.

    Investors lopped off nearly 10 percent from JPMorgan's stock price the next day, and 3 percent more on Monday. Since Dimon made the announcement, nearly $20 billion in market value has evaporated.

    Get the latest from NBC 4 New York anytime, anywhere. Follow us on Twitter, Facebook and Google+. Get our apps here and sign up for email newsletters here. Get breaking news delivered right to your phone -- just text NYBREAKING to 639710. For more info, text HELP. To end, text STOP. Message and data rates may apply.