The Traderszone Network

Published in TZ Latest News 1 May, 2015 by The TZ Newswire Staff

BNP Paribas sentenced in $8.9 billion accord over sanctions violations

BNP Paribas SA (BNPP.PA) was sentenced to five years probation by a U.S. judge on Friday in connection with a record $8.9 billion settlement resolving claims that it violated sanctions against Sudan, Cuba and Iran. U.S. District Judge Lorna Schofield in Manhattan formally ordered the French bank to forfeit $8.83 billion and pay a $140 million fine as part of a sentence that also called for BNP Paribas to enhance its compliance procedures and policies. Some of that money could now go to people harmed by the three sanctioned countries under a program the U.S.

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