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Robert S. Mueller

FBI's Mueller Confirms Probe Into JP Morgan Trading Loss

The Federal Bureau of Investigation's chief confirmed his organization has opened a probe into J.P. Morgan Chase and Co.'s (JPM) $2-billion-plus trading loss."All I can say is we've opened a preliminary investigation and, as you would well know having been in this business for a long time, it depends on a number of factors," FBI Director Robert Mueller said at a Senate Judiciary Committee hearing Wednesday.Mueller said violations of the federal criminal code or federal securities laws "would be the focus of any ongoing investigation," in response to a question from Sen. Richard Blumenthal (D., Conn.). He said he was hesitant to give anymore specifics.J.P. Morgan disclosed the huge trading blunder last week. The loss, which stemmed from a complicated trade in the bank's Chief Investment Office, has aroused intense scrutiny in Washington.The Wall Street Journal reported Tuesday that the Justice Department has opened a probe into the bank's trading loss that is being led by the FBI's New ...

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