ANZ scandal: Inside the lavish mansions owned by bankers and executives now facing jail

Six bankers facing ten years behind bars if convicted over their roles in ANZ’s alleged $2.5billion capital raising plot splurged millions on lavish mansions across Australia before their alleged wrongdoings were exposed.

The bombshell criminal cartel charges involving the Australian heads of American Citigroup and German Deutsche Bank will see the financial executives, accused of fixing the price of ANZ shares, face a Sydney courtroom in July.

Former Citigroup Australia CEO Stephen Roberts, the most high-profile defendant, sold his luxurious mansion on Sydney’s northern beaches for $8.1million in 2016, The Daily Telegraph reported. 

Six bankers accused of being involved in ANZ’s alleged capital raising plot splurged millions on lavish mansions across Australia. Former Citigroup Australia CEO Stephen Roberts sold the above property in Sydney’s north for $8.1million in 2016 

Roberts' five-bedroom, seven-bathroom former home (pictured) sits on 100 acres in Avoca on Sydney's northern beaches

Roberts’ five-bedroom, seven-bathroom former home (pictured) sits on 100 acres in Avoca on Sydney’s northern beaches

The luxurious mansion boasts an indoor lap swimming pool (pictured), a billiard hall, as well as a dam and a hay shed

The luxurious mansion boasts an indoor lap swimming pool (pictured), a billiard hall, as well as a dam and a hay shed

The five-bedroom, seven-bathroom home – which sits on 100 acres of land in Avoca – boasts an indoor swimming pool, a billiard hall, a dam and a tennis court. 

Roberts also reportedly collected $3.65million for his three-bedroom home in Woollahra in Sydney’s east, before buying a $3.1million unit in Melbourne’s St Kilda.

Former Australian CEO of Deutsche Bank Michael Ormaechea lives in a $7.73million mansion in the affluent Sydney suburb of Mosman, the Herald Sun reported.     

Rick Moscati, ANZ’s group treasurer, resides in a heavily-renovated bayside property which sold for $3.75million in 2009 in Melbourne’s Brighton.  

Stephen Roberts, former CEO of Citigroup in Australia, is the highest-profile defendant to face the bombshell charges 

Stephen Roberts, former CEO of Citigroup in Australia, is the highest-profile defendant to face the bombshell charges 

Roberts also reportedly collected $3.65million for his three-bedroom home in Woollahra in Sydney's east. His former home in Avoca is pictured

Roberts also reportedly collected $3.65million for his three-bedroom home in Woollahra in Sydney’s east. His former home in Avoca is pictured

Roberts is one of six bankers facing jail if convicted over their alleged roles. Pictured, his former home in Avoca

Roberts is one of six bankers facing jail if convicted over their alleged roles. Pictured, his former home in Avoca

Moscati also spent nearly $2.4million on a farm in the Mornington Peninsula, according to the paper.  

The charges were laid after a two-year Australian Competition and Consumer Commission investigation into the 2015 alleged plot, involving ANZ, convinced the Commonwealth Director of Public Prosecutions to take action.  

Roberts, Citigroup’s former Australia boss moved to Bank of America Merrill Lynch after the alleged scandal and has now taken leave from his new position as that bank’s head of capital markets in Australia.

Citigroup’s former head of capital markets origination John McLean has also been charged, along with the bank’s global head of foreign exchange trading Itay Tuchman. 

Another of the accused, ANZ's group treasurer Rick Moscati, is believed to live in this heavily-renovated bayside property

Another of the accused, ANZ’s group treasurer Rick Moscati, is believed to live in this heavily-renovated bayside property

Rick Moscati

Michael Ormaechea

Rick Moscati (pictured left) and Michael Ormaechea (right) are among the six financial executives to be charged 

Citigroup's former head of capital markets origination John McLean has also been charged along with the bank's global head of foreign exchange trading Itay Tuchman (pictured)

Citigroup’s former head of capital markets origination John McLean has also been charged along with the bank’s global head of foreign exchange trading Itay Tuchman (pictured)

Michael Ormaechea, who was previously Deutsche Bank’s CEO in Australia, is also accused of being part of a financial conspiracy along with his former head of equity capital markets for Australia, Michael Richardson. 

Treasurer Scott Morrison said they are very serious charges against the ANZ and the two international banks.

‘Under this government, we’ve had very focused, very determined regulators doing their job,’ Mr Morrison told Sky News on Wednesday.

‘I don’t think anyone can say under this government there has been any sort of light touch from our regulators.’

Treasurer Scott Morrison (pictured) said they are very serious charges against the ANZ and the two international banks

Treasurer Scott Morrison (pictured) said they are very serious charges against the ANZ and the two international banks

The Australian Competition and Consumer Commission's chairman Rod Sims said the charges followed a long investigation into alleged financial malpractice at Citigroup in Australia (stock)

The Australian Competition and Consumer Commission’s chairman Rod Sims said the charges followed a long investigation into alleged financial malpractice at Citigroup in Australia (stock)

Prime Minister Malcolm Turnbull (pictured at Parliament House)  said the coalition was determined to stamp out bad conduct

Prime Minister Malcolm Turnbull (pictured at Parliament House)  said the coalition was determined to stamp out bad conduct

Prime Minister Malcolm Turnbull said the coalition was determined to stamp out bad conduct.

‘We will ensure that those who have done the wrong thing are held to account through the legal system,’ he said.

Shadow treasurer Chris Bowen said the charges were possible because the Rudd Labor government had outlawed cartel conduct, despite resistance from the coalition.

‘This is a stark reminder for all in business of the consequences of potential cartel conduct,’ Mr Bowen said in Sydney.  

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