The 29-year-old banker charged Monday with murdering two women in Hong Kong had been part of a Bank of America Corp. team that specialised in tax-minimisation trades that are under scrutiny from prosecutors, regulators, tax collectors and the bank’s own compliance department, according to people familiar with the matter and documents reviewed by The Wall Street Journal.

Rurik Jutting was charged with two counts of murder after the bodies of two women were allegedly found in his Hong Kong apartment; one was hidden in a suitcase found on his balcony, police say. At a court hearing Monday, Jutting didn't enter a plea and didn't seek bail.