This article is more than 2 years old

This article is more than 2 years old

The Australian Competition and Consumer Commission has charged ANZ Bank, Citigroup and Deutsche Bank with criminal cartel offences following an investigation.

Senior executives John McLean, Itay Tuchman and Stephen Roberts of Citigroup, Michael Ormaechea and Michael Richardson formerly of Deutsche Bank, and Rick Moscati of ANZ have also been charged with criminal offences.

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The charges related to alleged cartel behaviour related to the trading of ANZ shares held by Deutsche Bank and Citigroup in August 2015.

ACCC chairman Rod Sims said the charges were the result of an investigation running for more than two years.

“Charges have now been laid by the commonwealth director of public prosecutions and the matter will be determined by the court.”

The matter is listed to appear before the Downing Centre local court in Sydney on 3 July.