General
Criminal cartel case against ANZ, investment banks heading to trial
Some of Australia’s top bankers from ANZ, Deutsche Bank and Citigroup Global Markets have been committed for trial on criminal cartel charges.
Key points:
- Three banks and six executives face criminal charges after an investigation by the ACCC
- The case was first brought in 2018 and will now proceed to the Federal Court
- The allegations relate to a $2.5 billion share placement in 2015
The banks and executives John McLean, Rick Moscati, Michael Ormaechea, Michael Richardson, Stephen Roberts and Itay Tuchman were committed from the NSW Local Court on Tuesday.
The upcoming trial will be heard in the Federal Court and will relate to criminal breaches of Australian consumer law.
This case has a long, complex history — starting with a two-year…
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