MADRID — Former JPMorgan Chase trader Javier Martin-Artajo was released from police custody after telling a court he opposed attempts by U.S. prosecutors to extradite him on charges he hid trading losses that cost the bank $6.2 billion.
The former trader turned himself in Tuesday morning after being contacted by investigators, a Spanish police official said. He was released later Tuesday after a hearing in Madrid in which he said he was unwilling to be extradited, according to a spokeswoman for the National Court.
The U.S. this month charged Martin-Artajo, a Spanish citizen, and Julien Grout, a French citizen, with trying to hide the losses stemming from trades by Bruno Iksil, the Frenchman at the center of the case who became known as the “London Whale.” Grout and Martin-Artajo face up to 20 years in jail if convicted of the most serious counts, including conspiracy and wire fraud.
Martin-Artajo, 49, oversaw trading strategy for Iksil’s synthetic portfolio at JPMorgan’s chief investment office in London.
