{"id":5653,"date":"2014-06-30T00:00:00","date_gmt":"2014-06-30T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/06\/bnp_pleads_guilty_to_criminal"},"modified":"2022-03-11T10:18:31","modified_gmt":"2022-03-11T16:18:31","slug":"bnp-pleads-guilty-to-criminal","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/bnp-pleads-guilty-to-criminal\/","title":{"rendered":"BNP Pleads Guilty to Criminal Charges Over Sanctions Violations, Pays $8.8B Fine"},"content":{"rendered":"\n

BNP Paribas SA (BNP) <\/a>has pleaded guilty to criminal U.S. charges that it violated sanctions. As part of the plea deal, the bank will pay an $8.8 billion fine.<\/p>\n

According to the allegations, BNP processed funds involving Cuba, Iran and Sudan. The bank pleaded guilty to conspiracy, falsifying bank records, and conspiring to violate the International Emergency Economic Powers Act. It will not be allowed to clear U.S. dollars for up to a year. This suspension is significant, since dollar clearing is key to doing business with international clients.<\/p>\n

With the BNP case, authorities are making it clear that no bank is immune from criminal charges. The probe revolved around its commodity-trade finance enterprises in Geneva, Switzerland and Paris, France. Unauthorized dollar payments were made for oil companies to entities in Iran and Sudan.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

BNP Paribas SA (BNP) has pleaded guilty to criminal U.S. charges that it violated sanctions. As part of the plea deal, the bank will pay an $8.8 billion fine. According to the allegations, BNP processed funds involving Cuba, Iran and Sudan. The bank pleaded guilty to conspiracy, falsifying bank records, and conspiring to violate the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3740],"tags":[2804],"class_list":["post-5653","post","type-post","status-publish","format-standard","hentry","category-miscellaneous","tag-bnp-paribas"],"yoast_head":"\nBNP Pleads Guilty to Criminal Charges Over Sanctions Violations, Pays $8.8B Fine — Investor Lawyers Blog — June 30, 2014<\/title>\n<meta name=\"description\" content=\"BNP Paribas SA (BNP) has pleaded guilty to criminal U.S. charges that it violated sanctions. 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