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Guilty plea: BNP Paribas fined $8.8 billion for rogue-regime banking
Guilty plea: BNP Paribas fined $8.8 billion for rogue-regime banking

Pleading guilty to two felonies, French banking giant BNP Paribas will pay more than $8.8 billion to federal and New York state authorities to settle accusations that it funneled billions of dollars from blacklisted countries -- Sudan, Iraq and Cuba -- through its U.S. operations. The agreement, announced late Monday in Washington, is the largest ever in a sanctions violation case, and the largest in a criminal case involving a bank, federal authorities said in a late afternoon news conference in Washington. To accomplish the “complex and pervasive scheme,” BNP structured payments in needlessly complicated ways and concealed the identities of blacklisted individuals and corporations,...

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