StanChart facing scrutiny from DoJ over Indonesia, WSJ says

StanChart came under investigation from US authorities due to alleged misconduct on the part of management at the Indonesian power company controlled by the lender.

According to the Wall Street Journal, an internal audit at Maxpower Group and a separate review conducted by a law firm hired by the Asian firm had discovered evidence of possible bribery and other misconduct.

The DoJ was concentrating its probe into whether American regulations against corruption were breached when executives at Maxpower allegedly facilitated bribes and whether StanChart executives on the board knew of or approved the alleged illegal activity, people with knowledge of the investigation told the Wall Street Journal.

StanChart was not immediately available for comment.