French bank BNP Paribas pleads guilty, will pay nearly $9 billion for violating US sanctions
WASHINGTON - France's largest bank has pleaded guilty and agreed to pay nearly $9 billion to resolve criminal allegations that it did business with clients in Sudan and other blacklisted countries in violation of U.S. trade sanctions.
The Justice Department is announcing a plea deal with BNP Paribas, which had been under investigation for processing financial transactions for clients in Sudan, Cuba and Iran.
French officials had warned that a large penalty could affect the entire European economy and had lobbied for White House intervention. The French economy minister had urged the Justice Department to be "fair and proportionate" in deciding on a potential penalty.
The announcement comes weeks after Switzerland-based bank Credit Suisse struck a $2.6 billion plea deal with the Justice Department for helping wealthy Americans avoid taxes.
Read more Business News
- Hwy 97 reopensKelowna - 1:38 pm
- Bus crash: 'Blood everywhere'Kelowna - 7:23 am
- US airstrikes accompany food dropsWorld - 8:03 pm
- EU warns RussiaWorld - 4:08 pm
|QHR Technologies Inc||1.19||0.00|
|Anavex Life Sciences||0.25||+0.01|
|Copper Mountain Mining||2.93||+0.02|
|Sunrise Resources Ltd||0.025||0.00|
|Mission Ready Services||0.245||-0.005|
Apple has taught many entrepreneurs the importance of design, how to create buzz when introducing new products to the marketplace, how to pioneer new technology and the importance of superior quality....
Move over “big guys” there’s a new brokerage in town featuring local expertise, long standing experience and a fresh boutique approach. Kelowna, August 31 2014 – You may have...
There are several things to consider when deciding how much home to buy. 1. Draw up a budget including the new mortgage payments. While the rules used by most lenders require that the mortgage paym...