Treasury Dept Probes JPMorgan Ties to Iranian Trader-Backed Hedge Fund, Bloomberg Says

Dow Jones11-22

--The U.S. Treasury Department is probing JPMorgan Chase's relationship with a hedge fund said to be part of a network overseen by the Iranian oil trader Hossein Shamkhani, Bloomberg reports, citing unnamed sources.

--The examination is at an early stage as investigators look into whether the bank complied with regulations when it took the hedge fund, Ocean Leonid Investments, as a client, according to the report.

--Spokespeople for JPMorgan, the Treasury and Ocean Leonid declined Bloomberg's request for comment.

Full story: https://www.bloomberg.com/news/articles/2024-11-22/us-probes-jpmorgan-s-ties-to-iranian-oil-kingpin-s-hedge-fund

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

November 22, 2024 07:37 ET (12:37 GMT)

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