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Dow Jones
By Joanne Chiu
A former senior banker at JPMorgan Chase & Co. was acquitted of bribing a potential client by hiring his son, in a defeat for Hong Kong s antigraft agency.
Deputy District Judge Emily Cheung on Monday ruled that Catherine Leung Kar-cheung, a former vice chairwoman of JPMorgan s Asia-Pacific investment banking business, wasn t guilty of two counts of bribery.
Ms. Leung had been charged in May 2019 with bribing a businessman to win a mandate for an initial public offering, in a case brought by the city s Independent Commission Against Corruption.
Her prosecution came after JPMorgan faced U.S. scrutiny for its so-called Sons and Daughters program, in which bankers in Asia offered internships and jobs to relatives of clients and prospective clients to win investment-banking business between 2006 and 2013. In 2016 JPMorgan admitted it had violated the Foreign Corrupt Practices Act an ....

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