We analyze the chargino contributions to B d −B d mixing and CP asymmetry of the B d → J/ψK S decay, in the framework of the mass insertion approximation. We derive model independent bounds on the relevant mass insertions. Moreover, we study these contributions in supersymmetric models with minimal flavor violation, Hermitian flavor structure, and small CP violating phases and universal strength Yukawa couplings. We show that in supersymmetric models with large flavor mixing, the observed values of sin 2β may be entirely due to the chargino-up-squark loops.