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Three BofA bankers in India leave amid probe into stock sale, source says
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Three BofA bankers in India leave amid probe into stock sale, source says
Nov 22, 2024 3:01 PM

Nov 22 (Reuters) -

Three Bank of America ( BAC ) 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 ( BAC )

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.

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