Legal News

BNP Paribas Closing in on Settlement with U.S. Government
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

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.

  
What
Where


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.

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

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!!




“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.





 

RELEVANT JOBS

Associate Attorney

USA-PA-Exton

ASSOCIATE ATTORNEY McKenna Snyder LLC, a law firm in Exton, PA has an immediate opening for an ex...

Apply now

Attorney

USA-MI-Sturgis

Qualifications: HaasCaywood is seeking associate attorneys for our Coldwater and Sturgis, Michiga...

Apply now

Attorney

USA-MI-Coldwater

Qualifications: HaasCaywood is seeking associate attorneys for our Coldwater and Sturgis, Michiga...

Apply now

Deputy General Counsel / Senior Deputy General Counsel

USA-CA-Sacramento

Cal Cities Culture and Mission Cal Cities is dedicated to creating a collaborative and inclusive ...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Education Law Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with ...

Apply Now

Education Law Attorney

USA-CA-Carlsbad

Carlsbad office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with 4-...

Apply Now

Education Law and Public Entity Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law and public ent...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top