ANZ, Deutsche Bank, Citigroup face 'criminal cartel' charges
Canberra, June 1: Financial institutions ANZ, Deutsche Bank and Citigroup will be prosecuted on criminal cartel charges, Australia's consumer watchdog announced on Friday.
The allegations concern arrangements for the sale of A$2.5 billion ($1.9 billion) worth of ANZ shares in 2015, the BBC reported.
Several "other individuals" are also expected to be charged by prosecutors, the Australian Competition and Consumer Commission (ACCC) said.
"The charges will involve alleged cartel arrangements relating to trading in ANZ shares following an ANZ institutional share placement in August 2015," chairman Rod Sims said in a statement.
"It will be alleged that ANZ and the individuals were knowingly concerned in some or all of the conduct."
The ACCC says cartel behaviour happens when businesses act together to drive up profit, rather than compete against each other.
ANZ said it believed the bank and its group treasurer, Rick Moscati, had acted lawfully, adding that it would co-operate with authorities, the BBC reported.
Citigroup and Deutsche Bank also vowed to "vigorously defend" defend the charges.
Australia's banking and financial services sector has been rocked by a series of scandals over the last decade.
The royal commission inquiry, which began in February, has heard evidence of rampant industry misconduct.
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India beat SA by 135 runs in 4th T20I, clinch series 3-1
Johannesburg, Nov 15: India beat South Africa by 135 runs in the fourth and final T20 International to clinch series 3-1 here on Friday.
Opting to bat, India posted a massive 283 for 1, thanks to unbeaten centuries from Tilak Varma (120 not out off 47 balls) and Sanju Samson (109 not out off 56 balls), and then bowled South Africa out for 148 in 18.2 overs.
Tristan Stubbs top-scored for South Africa with 46 while David Miller contributed 36.
For India, pacer Arshdeep Singh was the most successful bowler with figures of 3/20 while Varun Chakravarthy (2/42) and Axar Patel (2/6) got two wickets each.
Hardik Pandya, Ramandeep Singh and Ravi Bishnoi got a wicket each.
Brief Scores:
India: 283 for 1 in 20 overs (Sanju Samson 109 not out, Tilak Varma 120 not out; Lutho Sipamla 1/58).
South Africa: 148 all out in 18.2 overs (Tristan Stubbs 46, David Miller 36; Arshdeep Singh 3/20).
