June 16, 2016 / 10:52 PM / in 2 years

Argentina to extradite former JP Morgan executive to U.S.

BUENOS AIRES, June 16 (Reuters) - Argentina will extradite former JP Morgan Chase & Co executive Hernan Arbizu to the United States, to face charges of fraud and embezzlement, the Argentine security ministry said on Thursday.

Arbizu will leave Buenos Aires on June 22, the ministry said in a statement. The United States requested Arbizu’s extradition in 2008, when he was first detained. He was freed, then arrested again in Buenos Aires upon approval of extradition.

The extradition agreement comes as U.S.-Argentine relations have warmed following the election of center-right President Mauricio Macri last year.

An indictment unsealed in New York in 2008 accused Arbizu of embezzling some $5.4 million from bank clients. The name of Arbizu’s lawyer was not made available.

JP Morgan declined to comment. (Reporting by Nicolas Misculin and Caroline Stauffer; Editing by David Gregorio)

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