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3 years ago
BNP pleads guilty, agrees to forfeit $8.8 bln in sanctions case
June 30, 2014 / 8:20 PM / 3 years ago

BNP pleads guilty, agrees to forfeit $8.8 bln in sanctions case

NEW YORK, June 30 (Reuters) - BNP Paribas on Monday pleaded guilty to two criminal charges and agreed to forfeit $8.83 billion, as part of a broad investigation into allegations the French bank violated U.S. sanctions laws.

A lawyer for BNP briefly appeared in New York state court on Monday, to answer one count of falsifying business records, and one count of conspiracy.

One of the prosecutors said BNP engaged in a "long-term, multi-jurisdictional conspiracy" to violate sanctions laws by facilitating transactions involving Sudan, Cuba, and Iran. (Reporting by Joseph Ax; Editing by Karey Van Hall and Sandra Maler)

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