BNP Paribas pleaded guilty to two criminal charges and agreed to pay $8.83 billion in agreement with U.S. over charges the French bank violated U.S. sanctions laws. Rough Cut (no reporter narration).
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STORY: BNP Paribas on Monday pleaded guilty to two criminal charges and agreed to pay $8.83 billion in a broad agreement with U.S. authorities over charges the French bank violated U.S. sanctions laws.
U.S. Attorney General Eric Holder said the French Bank will be held accountable. "BNP Paribas will plead guilty to conspiring to violate U.S. sanctions," he said. "The bank will forfeit more than $8.83 billion to the United States," he added.
U.S. authorities have been examining whether BNP Paribas evaded U.S. sanctions, in part by stripping identifying information from wire transfers so they could pass through the U.S. financial system without raising red flags.
BNP was charged with conspiring with other entities to deliberately and repeatedly violate longstanding U.S. sanctions against Sudan, Cuba, and Iran.
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