1,000,000 + Attorneys and Legal Staff - Legal employers hire more people on LawCrossing than any other site.
Bank of America Settles Claims with Government for $17 Billion
Bank of America Settles Claims with Government for $17 Billion
False Copyright Infringement Leads to Threatening Letter from Getty Images
False Copyright Infringement Leads to Threatening Letter from Getty Im...
$62.5 Million Settlement Approved in Case Against Wells Fargo
$62.5 Million Settlement Approved in Case Against Wells Fargo
Rosen Law Firm PA Investigating Possible Fraud on Part of SeaWorld
Rosen Law Firm PA Investigating Possible Fraud on Part of SeaWorld
Job Listings

BNP Paribas Closing in on Settlement with U.S. Government

facebooktwittergoogle_plusredditpinterestlinkedinmail

6_bnp_paribas

The French bank BNP Paribas SA is bound to pay between $8 billion and $9 billion to settle with authorities from the United States regarding violations of sanctions, according to a report from Reuters.

Authorities from the United States have been investigating the bank, trying to determine if it skipped sanctions involving Sudan from 2002 to 2009. The investigators are also looking to determine if the bank took information out of wire transfers so they would pass through United States financial systems without any red flags popping up.

Negotiations between the bank and the United States have been taking place for weeks. An unnamed source who spoke with Reuters said that the investigation has found more than $100 million in records and books violations for transactions that involved Cuba, Sudan, and Iran.

A possible settlement could have the bank pleading guilty to criminal charges of violating the International Emergency Powers Act. The Wall Street Journal initially reported the potential settlement.

What

 job title, keywords

Where

 city, state, zip



Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!


Michel Sapin, the French Finance Minister, spoke on French radio, but did not comment about any potential settlement.

“The French state, the government … has played its role in telling the Americans: ‘Be careful – by all means punish the past but don’t punish the future’,” Sapin said on France Info.

The investigations are being run by the United States Attorney’s Office in Manhattan, the United States Justice Department, the Manhattan District Attorney’s Office, the United States Treasury Department and the New York Department of Financial Services. The New York Department of Financial Services said it will not revoke the license of the bank if the bank agrees to pay stiff penalties, which means it will still be allowed to operate in New York.

BNP Paribas Closing in on Settlement with U.S. Government by

facebooktwittergoogle_plusredditpinterestlinkedinmail

Tagged: , , , ,

Posted by on June 24, 2014. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

Job of the Day
Real Estate Associate
USA-TX-Dallas

Our client is a north Dallas law firm who seeks a Real Estate Development Associate.  The ideal candidate will have 2-4 years law firm experience concentrated in representing real estate develope...