More banks facing criminal charges in relation to ANZ cartel investigation

The Australian Competition and Consumer Commission has confirmed that Deutsche Bank and Citibank will also face criminal charges in relation to alleged cartel conduct by ANZ Bank (ASX: ANZ).

The ACCC confirmed on Friday afternoon that Deutsche Bank AG is also facing criminal charges in relation to the share placement.

Investments bank Citibank has also confirmed that is has been served a notice from the Commonwealth Director of Public Prosecutions that criminal charges are on the way. This has also been confirmed by the ACCC in a press release on Friday afternoon.

JPMorgan has reportedly been granted immunity from alleged criminal cartel conduct.

ANZ (ASX: ANZ) is facing charges by the Commonwealth Director of Public Prosecutions over an alleged arrangement of understanding between the joint lead managers of the institutional placement of 80.8 million shares.

In addition to ANZ, Deutsche Bank, and Citibank, the ACCC expects charges to be laid against ANZ treasurer Rick Moscati and other individuals involved. Read more

David Simmons - Business News Australia - 1 June 2018