NEW YORK — Benjamin Wagner, the top federal prosecutor in Sacramento, has been nothing less than a thorn in the side of JPMorgan Chase & Co.
His office's investigations into the bank's toxic mortgage investments played a key role in the U.S. Justice Department's landmark $13-billion civil settlement with the nation's biggest bank. His prosecutors are continuing a parallel criminal probe which could prove even more worrisome for the New York financial giant.
But for Wagner, JPMorgan is not just some far-away, faceless Wall Street behemoth. It used to be something of a family business: his late father, Rodney Wagner, was a longtime JPMorgan banker.
And not just any executive. Rodney Wagner retired as a vice chairman after a distinguished career, a few years before the investment bank's 2000 merger with Chase Manhattan Corp.