Ex-JPMorgan executive who fled to Argentina pleads guilty in U.S.
Fri Nov 18, 2016 | 8:57pm GMT
Ex-JPMorgan executive who fled to Argentina pleads guilty in U.S.
By Nate Raymond | NEW YORK
A former JPMorgan Chase & Co executive who spent eight years on the run in Argentina pleaded guilty on Friday to U.S. charges that he embezzled $5.4 million from clients at the bank and at a prior employer, UBS AG.
Hernan Arbizu, who became involved in a tax-evasion probe involving JPMorgan, pleaded guilty in Manhattan federal court to charges including wire fraud and embezzlement. He was extradited in June from Argentina.
"I knew what I was doing was wrong," he said in court. "I'm very sorry and am ashamed by my actions."
The 48-year-old citizen of Argentina faces a mandatory-minimum two-year prison sentence and a maximum of 422 years.
More:
http://uk.reuters.com/article/us-jpmorgan-court-arbizu-idUKKBN13D2KT
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