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Monday
Aug192013

JPMorgan Investigated for China Hiring Practices

Peter Foley/Bloomberg via Getty Images(NEW YORK) --- U.S. officials are reportedly investigating JPMorgan Chase, looking into whether the company hired the children of influential Chinese officials to help improve business. 

A confidential United States government document showcased questionable hires, including the employment of the son of a former Chinese banking regulator and the daughter of a Chinese railway official, according to The New York Times

In each instance, the bank secured assignments connected to the employees' parents shortly after hiring.

The investigation, coming on the heels of several examinations in the past year by U.S. regulators, includes allegations of cash bribes. 

A spokesman for the company told The New York Times they are fully cooperating with officials. 

Copyright 2013 ABC News Radio