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Three banks and six current and former senior banking executives have been charged with criminal cartel offences following a two-year investigation by the Australian Competition and Consumer Commission.

In a media release yesterday, the ACCC said Citigroup, Deutsche Bank and ANZ were being charged with offences “relating to trading in ANZ shares held by Deutsche Bank and Citigroup”, while the executives were “alleged to have been knowingly concerned in some or all of the alleged conduct”. ANZ sold $2.5 billion in shares to investors in August 2015, in a capital-raising deal underwritten by Deutsche Bank, Citigroup and American bank JP Morgan, which has not been charged …

Read here
The Saturday Paper