Mexico judge signs arrest warrant for local JPMorgan head: BVG World
Source: Reuters
JUNE 11, 2018 / 6:26 PM / UPDATED 39 MINUTES AGO
Christine Murray
MEXICO CITY (Reuters) - A judge in Mexico has issued an arrest warrant for the country head of U.S. investment bank JPMorgan for alleged fraud in a dispute related to a 2007 loan to a Mexican real estate developer, according to the company, BVG World.
Eduardo Cepeda, who has been at JPMorgan for almost 30 years, and Miguel Angel Barbosa, another employee at the bank, have been accused by BVG World of fraud linked to a credit line the lender gave it for investments that lost value during the financial crisis, BVG World said in a statement.
JPMorgan said in an emailed statement that its lawyers were working on a response and that Cepeda had the bank’s full confidence.
“The accusations have no merit. We are working with our lawyers to respond to this demand and for justice to be served,” JPMorgan said in its statement.
Read more: https://uk.reuters.com/article/us-mexico-jpmorgan/mexico-judge-signs-arrest-warrant-for-local-jpmorgan-head-bvg-world-idUKKBN1J72R2
Eduardo Cepeda, standing.