Cases & Deals

Custodial bank successfully defends against Department of Justice pay-to-play investigation

Client(s) Custodial bank

Jones Day successfully represented a custodial bank in a Department of Justice investigation involving pay-to-play allegations related to the bank's contract with a state treasurer to hold billions of dollars in public pension assets. After a four-and-a-half year investigation, which included numerous government interviews and a presentation to the DOJ, the government declined to pursue criminal charges against the bank and its employees.