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Australia: Ex-JPMorgan exact named as prosecution witnesses cartel case

By  |  September 25, 2019

Two former senior executives of investment bank JPMorgan Chase in Australia were named on Wednesday, September 25, as prosecution witnesses in a criminal cartel case by the state against rivals Citigroup and Deutsche Bank. 

According to Reuters, a senior investigator at antitrust regulator the Australian Competition and Consumer Commission (ACCC) was also named in a court hearing as a witness in the country’s biggest prosecution of alleged white collar crime.

The investment banks are accused of colluding over a AU$3 billion (US$2 billion) capital raising.

Last year, the ACCC brought charges against Citi, Deutsche, ANZ, and several of those companies’ top employees alleging they colluded to keep from regular shareholders the fact that the issue was undersubscribed.

Full Content: Reuters

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