BUSINESS + ECONOMY

Justice Dept, SEC probing collapse of Silicon Valley Bank

Mar 15, 2023, 8:30 AM | Updated: 9:13 am

FILE: The Justice Department seal is seen on a lectern in Washington, DC. (Mark Wilson/Getty Images...

FILE: The Justice Department seal is seen on a lectern in Washington, DC. (Mark Wilson/Getty Images)

(Mark Wilson/Getty Images)

Sound up 🔊 to hear the former U.S. Attorney for Utah, John Huber, at 9:20 on Dave and Dujanovic! 👇


 

The Justice Department and the Securities and Exchange Commission have launched investigations into the collapse of Silicon Valley Bank, a person familiar with the matter told The Associated Press.

The investigations – which are separate inquiries – are in the early stages and will also examine the actions of the bank’s senior executives, the person said.

The Justice Department’s investigation involves federal prosecutors in California, along with prosecutors involved in fraud cases, the person said.

The person was not authorized to publicly discuss the specific details of the ongoing investigations and spoke to the AP on condition of anonymity.

Related reading:

SVB collapse was driven by ‘the first Twitter fueled bank run’

Zions Bank reaching out to consumers to assure trustworthiness

Utah leaders react to Silicon Valley Bank collapse

 

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Justice Dept, SEC probing collapse of Silicon Valley Bank