Banker arrested in Argentina

Losses and Lawsuits

BUENOS AIRES - A former JP Morgan banker has been arrested in Argentina on charges of embezzling $5.4 million from clients. Hernan Arbizu, a former vice-president at the bank responsible for private banking clients in Latin America, was charged with 12 counts of bank, identity and wire fraud.

The frauds are alleged to have taken place using transfers from accounts at JP Morgan and UBS between March 2007 and April 2008, including $2.8 billion in four transactions on April 15. Arbizu, who once handled $200 million of client assets, faces up to 30 years for each fraud.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here