BNP's Guilty Plea: Paying $8.9 Billion For Making $70 Million In Dirty Money
mitchellepner.substack.com
As predicted, BNP Paribas pled guilty today to two felonies in US District Court and agreed to pay $8.9 billion for helping Sudan and Iran evade US sanctions. BNP's plea agreement reveals the crazy risk that BNP took in facilitating these transactions. Under federal law, a bank that knowingly violates the Trading with the Enemy Act or the International Emergency Economic Powers Act is liable for criminal penalties for the full amount of the transactions. In this case, federal and state law enforcement were able to trace $8.9 billion in blacklisted transactions that BNP facilitated. Hence, the record $8.9 billion penalty.
BNP's Guilty Plea: Paying $8.9 Billion For Making $70 Million In Dirty Money
BNP's Guilty Plea: Paying $8.9 Billion For…
BNP's Guilty Plea: Paying $8.9 Billion For Making $70 Million In Dirty Money
As predicted, BNP Paribas pled guilty today to two felonies in US District Court and agreed to pay $8.9 billion for helping Sudan and Iran evade US sanctions. BNP's plea agreement reveals the crazy risk that BNP took in facilitating these transactions. Under federal law, a bank that knowingly violates the Trading with the Enemy Act or the International Emergency Economic Powers Act is liable for criminal penalties for the full amount of the transactions. In this case, federal and state law enforcement were able to trace $8.9 billion in blacklisted transactions that BNP facilitated. Hence, the record $8.9 billion penalty.