By Robb M. Stewart

MELBOURNE, Australia--Criminal charges have been laid against Citigroup Inc. (C), Deutsche Bank AG (DB) and Australia & New Zealand Banking Group Ltd. (ANZ.AU), alleging cartel conduct relating to a 2015 capital raising by the Australian bank.

The charges were laid Tuesday by Australia's Commonwealth Director of Public Prosecutions against the three banks, as well as several senior executives. It follows a more than two-year investigation by the Australian Competition and Consumer Commission.

In a statement, the regulator said the matter is expected to appear before a Sydney court on July 3.

Citi and Deutsche Bank said they would each defend themselves and their employees against the allegations. ANZ previously said it would fight any charges of cartel conduct.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

June 05, 2018 03:45 ET (07:45 GMT)

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