Former Credit Lyonnais Director to Plead Guilty
Former Credit Lyonnais director Dominique Bazy, one of five former officers at the French bank indicted on charges related to the purchase of an insolvent Los Angeles-based insurer, agreed to plead guilty, U.S. prosecutors said.
Bazy, 52, agreed to plead guilty to a felony charge of causing Credit Lyonnais to make false statements to the Federal Reserve Bank, the U.S. attorney’s office in Los Angeles said. Bazy agreed to pay a $250,000 fine and be banished from the U.S. for three years.
Credit Lyonnais and the French government last month entered guilty pleas as part of their $770-million agreement to settle charges related to the purchase of Executive Life. Prosecutors continue to press charges against four former officers at Credit Lyonnais, including two former chairmen.
From Bloomberg News
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