WSJ: Federal Prosecutors Target RBS, J.P. Morgan Execs

According to the Wall Street Journal, federal prosecutors are pursuing criminal cases against executives of Royal Bank of Scotland and J.P. Morgan Chase for allegedly selling flawed mortgage securities.

The Journal said that prosecutors that are examining RBS are specifically interested in a $2.2 billion deal that repackaged home mortgages into bonds in 2007.

The probe at J.P. Morgan is less extensive, with prosecutors after two people who worked on a different deal, Journal sources said.

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Terry Mulreany
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