JPMorgan Said to Face Justice Department Probe of Energy Trading
This article is for subscribers only.
JPMorgan Chase & Co. faces a Justice Department probe of its energy-trading practices after the bank settled a regulator’s market-manipulation complaint last month, a person with direct knowledge of the matter said.
U.S. Attorney Preet Bharara in Manhattan is scrutinizing the conduct at issue in JPMorgan’s settlement with the Federal Energy Regulatory Commission, said the person, who asked not to be named because the investigation isn’t public. The inquiry is in an early stage, the Wall Street Journal reported late yesterday. Jerika Richardson, a spokeswoman for Bharara, and Mark Kornblau at JPMorgan declined to comment on the probe.