JPMorgan Chase & Co. sued Hernan Arbizu, a former private banker indicted for embezzlement, seeking $2.8 million that the company says he stole from a customer's account.
Arbizu, indicted in New York, was arrested in Buenos Aires in July 2008. JPMorgan Chase sued Monday in federal court in New York. U.S. officials are still seeking his extradition, according to the banking company's complaint. From March 2007 to April 2008, Arbizu allegedly stole millions of dollars from the accounts of a UBS AG customer when he was employed there.