Capitol Report: Charges dropped after ‘London Whale’ accused Jamie Dimon of making him a fall guy

The case against two traders in the infamous “London Whale” case appears to have fallen apart after the Whale himself, considered a key witness, accused J.P. Morgan Chase & Co. Chief Executive Jamie Dimon of setting him up as a fall guy.

The U.S. Department of Justice revealed Friday that it is seeking permission from a judge to dismiss the charges against two former J.P. Morgan JPM, -0.34% derivatives traders, Javier Martin-Artajo and Julien Grout. According to the announcement, a key reason for dropping the case is because prosecutors no longer believed Bruno Iksil’s testimony could be relied upon to prosecute “based on a review of recent statements and writings made by Iksil.

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