FBI launches probe into JP Morgan's $2 billion trading loss

Washington, May 16 (ANI): The Federal Bureau of Investigation (FBI) has launched a criminal investigation into JP Morgan Chase's 2 billion dollars trading loss.

According to The Telegraph, the FBI and the US Department of Justice are examining whether there was any unlawful activity that led to the losses.

JP Morgan CEO Jamie Dimon has said that he would consider clawing back the bonuses of any executives who were found to be responsible.

Dimon, however, did not comment on how long its own internal investigation will take, but said the bank would do the right thing.

The losses have already led Ina Drew, the head of the bank's chief investment office, to resign and more are top-level officials are expected to leave the bank.

The disclosure of the losses has re-ignited the debate in the US over whether more regulations are needed for a stable financial system. (ANI)