Hong Kong’s corruption watchdog has charged
JPMorgan Chase’s former vice-chairman of Asian investment banking with bribery connected to the bank’s hiring of well-connected Chinese “princelings” as a means of winning business in the country.
The Independent Commission Against Corruption said on Thursday that it had charged former JPMorgan managing director Catherine Leung with bribing the chairman of a logistics company in 2010. The ICAC alleges that Ms Leung offered the businessman’s son employment at JPMorgan in order to help the US bank secure work on the company’s initial public offering.
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