Legal News

Standard Chartered Faces Uphill Climb in Case Filed by New York State
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

A British bank that is facing money laundering allegations from the New York State Department of Financial Services had a 27-page complaint filed against it this week. The bank, Standard Chartered, could have its state banking license stripped by the regulator, which is led by Benjamin Lawsky. The complaint alleges that the bank plotted with the government of Iran to hide $250 billion worth of transactions, which violates United States sanctions on Iran.

The bank claims that this never happened and even said that in January of 2010 it contacted the New York Federal Reserve Bank and the Treasury Department to let those agencies know that it was going to review its transactions internally. The bank said that it “waived its attorney-client and work product privileges to ensure that all the U.S. agencies would receive all relevant information.”

  
What
Where


It was reported last week that Standard Chartered is working towards fixing the probe and could begin settlement talks by the end of this week. The case against the bank appears to be based on emails, which could be deemed privileged information. The emails and memos in the complaint seem to provide legal advice.

“It’s pretty infrequent,” a former federal prosecutor said in regards to attorney-client privilege. “You don’t want to waive it, because it opens the floodgates and exposes it to civil litigants.”

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!!






 

RELEVANT JOBS

Real Estate Closing Secretary

USA-SC-Aiken

As a Closing Secretary you will assist homebuyers, borrowers, sellers, and Realtors with the real es...

Apply now

Legal Secretary

USA-NY-New York City

Approximate Salary: Not Specified Location: New York, New York Job Type: Legal Secretary Po...

Apply now

LITIGATION PARALEAL

USA-LA-Baton Rouge

LITIGATION PARALEGAL Job Description Immediate opening: Downtown law firm seeking experienced ...

Apply now

Legal Secretary

USA-NJ-Tuckerton

Seeking a full time legal secretary in a small firm located at the Jersey Shore. Prior law firm expe...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Housing Finance Associate Attorney

USA-MN-Minneapolis

Minneapolis office of a BCG Attorney Search Top Ranked Law Firm seeks a housing finance associate at...

Apply Now

Senior Intellectual Property Litigation Associate Attorney

USA-PA-Philadelphia

Philadelphia office of a BCG Attorney Search Top Ranked Law Firm seeks a senior intellectual propert...

Apply Now

Senior Intellectual Property Litigation Associate Attorney

USA-GA-Atlanta

Atlanta office of a BCG Attorney Search Top Ranked Law Firm seeks a senior intellectual property lit...

Apply Now

SEARCH IN ARCHIVE

To Top