J.P. Morgan junior bankers fired for cheating on test | WHAT REALLY HAPPENED


J.P. Morgan junior bankers fired for cheating on test

It is never a good thing when cheating shows up in the same sentence as banking. But on the heels of a cheating scandal at Goldman Sachs, J.P. Morgan Chase & Co. found itself mired in a similar situation.

Several junior bankers at J.P. Morgan were fired after they were found with crib notes or copying fellow bankers’ answers during an accounting test that is viewed as “relatively easy,” the Telegraph reported.

One J.P. Morgan JPM, -1.20% insider told the U.K newspaper that these tests weren't that difficult but that cheating is still a commonplace occurrence. A J.P. Morgan spokeswoman declined to comment on the Telegraph report to MarketWatch.

According to the Telegraph, the J.P. Morgan bankers, several who are from overseas, were told to pay for their own flights home.

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