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

By Shimon Prokupecz and Jonathan Dienst
|  Tuesday, May 15, 2012  |  Updated 5:19 PM EDT
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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.

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