ANZ (ASX: ANZ), Citigroup, Deutsche Bank and six senior banking executives have been committed to the Federal Court today for trial on criminal cartel charges.
The banks and the executives John McLean, Rick Moscati, Michael Ormaechea, Michael Richardson, Stephen Roberts and Itay Tuchman were committed from the NSW Local Court in Sydney today following committal proceedings.
The charges involve alleged cartel arrangements in 2015 relating to trading in ANZ shares held by Deutsche Bank and Citigroup, and follow from an Australian Competition and Consumer Commission (ACCC) investigation.
ANZ and each of the executives charged are alleged to have been knowingly concerned in some or all of the alleged conduct.
"As this matter involves criminal charges, we will not be commenting further at this time," ACCC chair Rod Sims said.
The matter will be heard in the Federal Court at a later date.
Shares in ANZ are up 0.36 per cent to $23.42 per share at 3.32pm AEDT.
Business News Australia