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U.S. threatens French bank with 10
billion dollar fine
The
U.S. Justice Department is seeking to fine French
bank BNP Paribas 10 billion dollars for evading
financial sanctions on countries such as Cuba, Iran
and Sudan, The Wall Street Journal reported.
With
this fine the authorities are attempting to close
the criminal investigation of BNP currently
underway, for allegedly violating economic sanctions
imposed by the U.S. government on the aforementioned
countries, between 2002-2009. If substantiated, this
will be one of the largest fines imposed by the U.S.
on a bank
Nonetheless, The Wall Street Journal
cites sources close to the investigation emphasizing
that discussions between the two parties continue,
and that the final resolution could take weeks.
The
sources stated that BNP is attempting to reduce the
fine to eight billion dollars (more than 5.8 million
euros).
The
U.S. Justice Department announced last week that an
agreement had been reached with Swiss bank, Credit
Suisse, also fined for doing business with Cuba,
pleading guilty to fiscal evasion and paying a fine
of 2.5 million dollars.
The report also stated that Justice Department
attorneys continue to pressure BNP to plead guilty
to the charges, which could potentially, put its
banking license in the U.S. at risk. (Cubadebate)
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