An Australian court overseeing a criminal cartel case against Citigroup Inc and Deutsche Bank AG on Tuesday declined a prosecution request to ...
An Australian court overseeing a criminal cartel case against Citigroup Inc and Deutsche Bank AG on Tuesday declined a prosecution request to delay proceedings, raising the chances the long-running matter will proceed to trial this year.
In the country's biggest white collar criminal case, a regulator has accused the investment banks of colluding over a AUS$2.5 billion 2015 share issue to withhold unsold shares and keep the stock from falling. Their client, Australia and New Zealand Banking Group Ltd , is also defending the case.
"We've reached the point where I have to say enough's enough," Magistrate Jennifer Atkinson told the Downing Centre Local Court in a short administrative hearing.AdvertisementProsecution lawyer Shanaka Jayasuriya told the court the later date would help all parties involved because"the reality is that organising nine separate case conferences is a challenge some of the clients are located overseas".
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