ANZ Banking Group (ASX:ANZ) directors sent internal emails in 2008 to plot how to "create personal embarrassment" for the directors of Primebroker Securities, that is according to Fairfax Media.
According to the report ANZ contemplated hiring a private detective to investigate Primebroker’s affairs and destroy the stockbrokers reputation.
Fairfax says the information has come to light as part of $285 million in legal action against ANZ filed by Primebroker directors, that the bank is set to vigorously defend.
The allegations are understood to stem from a time when ANZ was thought to be targeting a $55 million equity stake in Primebroker.
ANZ Banking Group recorded a net profit of $2.7 billion in the year to the end of March 2011.
