JPMorgan Chase (JPM) and UBS Group (UBS) had severed ties with Infini Capital Management well before a probe into the investment firm was made public, Bloomberg News reported Thursday, citing people familiar with the matter.

Infini was recently raided by authorities during an investigation into alleged insider dealing in Hong Kong, the unnamed sources told the news outlet.

The banking giants stopped offering prime brokerage services to Infini months ago, according to the report. It is not clear if UBS and JPMorgan ceased to do other business with the firm and what exactly triggered their decision, Bloomberg reported.

JPMorgan, UBS, and Infini didn't immediately respond to MT Newswires' requests for comment.

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