Three BofA bankers in India leave amid probe into stock sale, source says

A whistleblower complaint alleged that Bank of America shared non-public information with some investors before it sold roughly $200 million worth of stock for some clients in India, according to a Wall Street Journal report in September.

Reuters

November 23, 2024 / 05:56 IST

In September, BofA said it takes complaints seriously and thoroughly investigates them.

Three Bank of America investment bankers in India have left the company as it probes allegations of wrongdoing over stock sales, a source familiar with the matter said.

The departures were first reported by the Financial Times.

A whistleblower complaint alleged that Bank of America shared non-public information with some investors before it sold roughly $200 million worth of stock for some clients in India, according to a Wall Street Journal report in September.

The bank is carrying out an internal investigation, according to the source, who declined to be identified when discussing personnel matters.

In September, BofA said it takes complaints seriously and thoroughly investigates them.

Reuters

first published: Nov 23, 2024 05:56 am

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