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JPMorgan loss brings federal probe


The federal government is looking into JPMorgan Chase & Co.’s loss of $2 billion to see whether any criminal activity occurred, according to Bloomberg.

The U.S. Department of Justice and the Federal Bureau of Investigation are looking into the matter, a source told Bloomberg. The U.S. Securities and Exchange Commission is also considering an investigation.

Although JPMorgan was one of the only banks to successfully come out of the 2008 economic crisis, the bank announced last week that its London-based chief investment office lost $2 billion in risky trading practices.

Despite the loss, 91.5 percent of JPMorgan shareholders voted to give CEO Jamie Dimon a $23 million bonus, according to Reuters.

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