A person with knowledge of the situation told The Associated Press that the Justice Department and the Securities and Exchange Commission had opened investigations into the failure of Silicon Valley Bank.
The separate investigations, which are still in the early stages, will also look into the bank’s senior executives, according to the source.
The source claimed that federal prosecutors in California and those involved in fraud cases are all subjects of the Justice Department’s inquiry.
The individual spoke to the AP under the condition of anonymity because they were not authorized to discuss the specifics of the current investigations publicly.
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