May 1, 2015
Posted January 25, 2016
Paris-based BNP Paribas S.A. was ordered to forfeit $8,833,600,000 and pay a $140,000,000 fine for conspiring to violate the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA) by processing billions of dollars of transactions through the US financial system on behalf of Sudanese, Iranian and Cuban entities subject to U.S. economic sanctions. It is the largest financial penalty ever imposed in a criminal case and the first time a financial institution has been convicted and sentenced for violations of US economic sanctions. DOJ
Tagged in: Financial Institution Fraud,