JPMorgan subject of obstruction probe in energy case
By Emily Flitter
NEW YORK | Wed Sep 4, 2013 12:01pm EDT
(Reuters) - U.S. authorities are conducting a criminal investigation into whether several employees of JPMorgan Chase & Co tried to impede a regulatory investigation into alleged manipulation of power markets, according to multiple sources familiar with the matter.
The probe, which is in its early stages, is being conducted by the Federal Bureau of Investigation and prosecutors in Manhattan U.S. Attorney Preet Bharara's office. It comes after a JPMorgan subsidiary agreed on July 30 to pay a $410 million penalty to settle a manipulation case brought by the Federal Energy Regulatory Commission.
The sources said investigators aim to determine whether individuals at JPMorgan - including three Houston-based employees - gave regulators all the information they needed to investigate JPMorgan's power market deals in California and the Midwest.
Deliberately withholding information from investigators or lying during interviews conducted as part of an investigation is considered obstruction of justice, a criminal offense.
more
http://www.reuters.com/article/2013/09/04/us-jpm-ferc-doj-idUSBRE9830QM20130904
