Bank of America, JPMorgan Chase & Co. and Bank of Tokyo-Mitsubishi UFJ all face new scrutiny in US election
BANK OF AMERICA, JPMorgan CHASE & CO., and BANK of TEL AVIV, ALL HAD NEW SCRUTINY CONCERNS IN THE US ELECTION, AN INDUSTRY-DETECTED SECURITY SERVICE REPORT HAS REVEALED.
The US Federal Bureau of Investigation (FBI) said on Monday that it was “aware of multiple” allegations that BAMC and JPMC had been involved in a scheme to bribe foreign officials in the United States, the Financial Times reported.
BAMB has denied any wrongdoing and JPMCHS said it was cooperating with the US investigation.
The Bank of Japan is also investigating the allegations.
The reports of BAMM&C’s and JPMB&!t.s alleged involvement in a “brazen scheme” to bribe the leaders of countries in Central and South America to gain access to US commercial banks in exchange for US government contracts is part of a wider US investigation into bribery and corruption in the banking industry, according to a report in The Wall Street Journal (WSJ).
The US Department of Justice (DOJ) and Federal Bureau.
of Investigation are also probing the allegations, the WSJ reported.
In the past few years, several US politicians have faced charges for allegedly receiving money from a corrupt business partner in exchange to secure government contracts.
In recent years, some of the most high-profile cases involved US Senator Bernie Sanders, who has been accused of taking thousands of dollars from a wealthy campaign donor to campaign for his 2008 presidential run.
The allegations against Sanders have been largely dismissed by the US political establishment, which has maintained he did not take the donations.
The WSJ report said the DOJ and FBI were also investigating a US bank in which the bank had been linked to the “bribery” scandal that erupted after the 2007-08 financial crisis.
According to the report, a number of people involved in the scheme to obtain commercial banking contracts from banks in the US had close links to the Bank of China, a key rival of the US.
The report said that the bank’s former CEO had been arrested in December for allegedly taking bribes.
The US investigation was also reported by the Associated Press, citing a law enforcement source.
Reuters contributed to this report