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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Mumbai Indians beat Delhi Capitals by 12 runs
New Delhi, Apr 13 (PTI): Mumbai Indians beat Delhi Capitals by 12 runs in their IPL match here on Sunday.
Sent in to bat, Tilak Varma hit a 33-ball 59 to power Mumbai Indians to 205 for five.
Ryan Rickelton (41 off 25 balls), Suryakumar Yadav (40 off 28 balls) and Naman Dhir (38 off 17 balls) also made useful contributions.
In reply, DC were all out for 193 in 19 overs, despite Karun Nair's 40-ball 89.
Karn Sharma (3/36) claimed three wickets, while Mitchell Santner (2/43) took two wickets.
For DC, Vipraj Nigam (2/41) and Kuldeep Yadav (2/23) snapped two wickets each, while Mukesh Kumar (1/38) took one.
Brief Scores:
Mumbai Indians: 205 for 5 in 20 overs (Tilak Varma 59; Kuldeep Yadav 2/23, Vipraj Nigam 2/41).
Delhi Capitals: 193 all out in 19 overs (Karun Nair 89; Karn Sharma 3/36).
