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United States probe of bank hires must go beyond Asian princelings

According to media reports, the US government is currently examining whether J.P. Morgan violated US anti-corruption laws by hiring the children of Asian government officials allegedly with the intent of bribing their parents to obtain business. What began as scrutiny of the company's Hong Kong office has since widened to encompass other Asian countries, and is reported to include other banks and hedge funds as well.

21 Sep 2013 - 2:00AM

According to media reports, the US government is currently examining whether J.P. Morgan violated US anti-corruption laws by hiring the children of Asian government officials allegedly with the intent of bribing their parents to obtain business. What began as scrutiny of the company's Hong Kong office has since widened to encompass other Asian countries, and is reported to include other banks and hedge funds as well.

United States probe of bank hires must go beyond Asian princelings