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JPMorgan bribe probe in Asia expands: Report

Thursday, 29 Aug 2013 | 8:45 AM ET
Adam Jeffery | CNBC

An investigation of JPMorgan Chase's hiring practices in China has uncovered an internal spreadsheet that linked appointments to specific deals pursued by the bank, Bloomberg News reports.

The probe, which began in Hong Kong, has spread to countries across Asia, the news agency said Wednesday, citing unidentified sources.

It said the Justice Department has joined the Securities and Exchange Commission in the probe.

Investigators are examining whether JPMorgan hired people in Asia so that their family members in government and elsewhere would steer business to the firm, possibly violating bribery laws, according to Bloomberg.

The government hasn't accused JPMorgan or its executives of wrongdoing. A company spokesman told Bloomberg JPM is cooperating with regulators.

To read the full story, click here.

—By CNBC.com.

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