On Tuesday, Australia’s competition regulator stated that criminal charges had been laid against Australia and the New Zealand Banking Group. Local units of Citigroup and Deutsche Bank have been named in cartel offences over a $2.3 billion share issue.
According to the Australian Consumer and Competition Commission (ACCC), Criminal charges have also been laid against several senior executives, including ANZ Treasurer, Rick Moscati and Citigroup’s John McLean and Itay Tuchman. Former executives, including Citigroup’s Stephen Roberts and Deutsche Bank’s Michael Ormaechea and Michael Richardson, were also charged.
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