BNP Paribas pleads guilty to additional charge; judge satisfied with $9 billion penalty

The bank stood accused of dealing with the U.S.-sanctioned countries of Sudan, Iran and Cuba

It’s not over for French bank BNP Paribas. Just one week after pleading guilty to two charges of dealing with the U.S.-sanctioned countries of Sudan, Iran and Cuba, the bank pled guilty to an additional charge of violating the International Emergency Economic Powers Act and the Trading with the Enemy Act on July 9.

The additional guilty plea caps an $8.97 billion settlement that BNP reached with U.S. authorities on June 30. The settlement is a record sum for a global sanctions case.

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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