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Business & Finance

ANZ, Citi, Deutsche Bank committed for trial in Australian court on criminal cartel charges

  • The regulator has accused the investment banks of colluding over a A$2.5 billion ($1.8 billion) 2015 share issue to withhold unsold shares and keep the stock price from falling.
Published December 8, 2020

Australia's competition regulator on Tuesday said Citigroup Inc, Australia and New Zealand Banking Group, Deutsche Bank AG and senior executives have been committed to Australian Federal Court for trial on criminal cartel charges, in the country's biggest white collar criminal case.

The regulator has accused the investment banks of colluding over a A$2.5 billion ($1.8 billion) 2015 share issue to withhold unsold shares and keep the stock price from falling.

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