By Cristina Roca

Australia's federal prosecutor has decided not to proceed further in criminally prosecuting Citigroup Inc., Deutsche Bank AG and four senior bankers for cartel offenses, it said Friday.

"The Director concluded that there were no longer reasonable prospects of conviction for the charges before the court," said Commonwealth Director of Public Prosecutions Sarah McNaughton.

The case relates to a 2015 fundraising round for Australia & New Zealand Banking Group Ltd., which was underwritten by Citi, Deutsche and the local arm of JPMorgan Chase & Co.

Write to Cristina Roca at cristina.roca@wsj.com

(END) Dow Jones Newswires

February 11, 2022 02:09 ET (07:09 GMT)

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