The Federal Bureau of Investigation is working with U.S. Attorney Preet Bharara, said the person, who asked not to be named because the review isn't public. Bharara's inquiry, reported by the Wall Street Journal and Bloomberg News earlier this week, focuses on conduct outlined last month in the bank's $410 million civil settlement with the Federal Energy Regulatory Commission. The FERC had accused the bank of manipulating power markets in California and the Midwest.

It's the second criminal probe of the bank to emerge this month, after the lender disclosed Aug. 7 that the U.S. Attorney's Office in Sacramento, California, opened a separate criminal inquiry into the firm's mortgage-bond practices. Investigators in that case told the bank in May that they have preliminarily concluded the company violated civil laws, JPMorgan said in the disclosure.

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