SEC Follows DOJ's Lead, Drops London Whale Case
Prosecutors said they were dismissing all charges, with prejudice, after reaching an agreement with counsel for the two defendants, Javier Martin-Artajo and Julien Grout.
August 18, 2017 at 04:03 PM
3 minute read
The U.S. Securities and Exchange Commission dropped its fraud case against the defendants in the London Whale case Aug. 18.
In a letter to U.S. District Judge George B. Daniels for the Southern District of New York, prosecutors said they were dismissing all charges, with prejudice, after reaching an agreement with counsel for the two defendants, Javier Martin-Artajo and Julien Grout.
The move comes as little surprise after the U.S. Department of Justice dropped its case against the pair last month. At issue in both cases was the government's cooperating witness, Bruno Iksil, the London Whale himself. Prosecutors from the U.S. Attorney's Office for the Southern District of New York said Iksil could no longer be counted on to provide testimony at the center of the case against the defendants.
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