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Sunday, March 26, 2023

US justice department probes collapse of Silicon Valley Bank

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The US justice department and the securities and exchange commission (SEC) have launched investigations into the collapse of Silicon Valley Bank (SVB), it is understood.

The investigations – which are separate inquiries – are in their early stages and will also examine the actions of the bank’s senior executives, a source told the Associated Press.

The justice department’s investigation involves US federal prosecutors in California, along with prosecutors involved in fraud cases, the source said.

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