Six senior executives from ANZ, Deutsche Bank and Citigroup will face a Sydney Court next month after the Commonwealth Director of Public Prosecutions (CDPP) laid charges against the cohort today.
Executives facing criminal conduct charges have been identified as ANZ group treasurer Rick Moscati; Deutsche Bank's (former employees) Michael Ormaechea and Michael Richardson; and Citigroup's John McLean, Itay Tuchman and Stephen Roberts.
Ormaechea retired as Deutsche's Australia chief executive in June 2017 after 22 years with the bank.
"ANZ and each of the individuals are alleged to have been knowingly concerned in some or all of the alleged conduct," the competition regulator said in a statement.
The charges follow from a two-year long investigation undertaken by Australian Competition and Consumer Commission (ACCC).
The news comes four days after ACCC said it expected charges to be laid against ANZ, two other companies and executives including Moscati.
In subsequent updates, that afternoon, the ACCC identified the other two parties as Citigroup and Deutsche.
In August 2015, ANZ offered an institutional placement of 80.8 million shares. Two of the placement's joint lead managers, Citigroup and Deutsche, allegedly took up about 25.5 million of the shares. This represents about 31.5% of the total placement, even though it is only 0.91% of the total shares on placement.
Whether the joint lead managers should have stated this fact, is up for investigation. ANZ denied breaking the law on Friday.
ANZ chief risk officer Kevin Corbally said: "We believe ANZ acted in accordance with the law in relation to the placement and on that basis the bank intends to defend both the company and our employee."
The matter is listed before the Downing Centre Local Court in Sydney on 3 July 2018.