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JPMorgan Trader Bruno placed a giant risky trade and lost six billion dollars for the bank. His boss and assistant conspired to cover up the losses by filing false reports. These crimes are known as ______

User Mhenrixon
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Final answer:

The crimes described in the question are known as financial fraud, which involves illegal activities committed in the financial industry for personal gain. In this case, JPMorgan Trader Bruno incurred a massive loss for the bank, and his boss and assistant conspired to cover it up through false reports.

Step-by-step explanation:

The crimes described in the question are known as fraudulent activities or financial fraud. In this case, JPMorgan Trader Bruno placed a risky trade and incurred a loss of six billion dollars for the bank. His boss and assistant conspired to cover up the losses by filing false reports, which is a common practice in financial fraud.

Financial fraud refers to any illegal activities committed in the financial industry with the intention of deceiving others for personal gain. It typically involves misrepresentation, false statements, or omissions of important information. Some examples of financial fraud include insider trading, Ponzi schemes, and accounting fraud.

In this specific scenario, the fraudulent activities involved hiding the losses through false reports, which can have severe consequences for the involved individuals as well as the reputation and stability of the bank.

User Halit
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