Senior staff at ANZ Bank and investment banks Deutsche and Citigroup face criminal cartel charges after JPMorgan blew the whistle on them over a $2.5 billion capital raising in 2015.
In a landmark case for financial markets, the Commonwealth Director of Public Prosecutions (CDPP) on Friday flagged it would launch a criminal case alleging ANZ and its investment bankers came to "an arrangement or understanding" about how 25.5 million shares, worth $789.2 million, would be sold after they failed to find buyers during the capital raising process.
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Patrick Durkin is Melbourne bureau chief and BOSS deputy editor. He writes on news, business and leadership. Connect with Patrick on Twitter. Email Patrick at pdurkin@afr.com
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
