JPMorgan did not carry out key checks when employing the son of a potential client, a prosecutor told a Hong Kong court on Monday, the first day of a bribery trial of the bank’s former Asia investment banking vice-chairwoman, Catherine Leung.
Leung, who repeated a not guilty plea on Monday, is charged with bribing the then chairman of Kerry Logistics Network Ltd, Ang Keng-lam, by employing his son at the U.S. investment bank’s Hong Kong office in 2010.
She did so, the prosecution said, in anticipation that Ang would influence his company to give JPMorgan a role on its upcoming initial public offering (IPO).
The original full article can be found at reuters.com
(Photo: IC)
