Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

BNP Investigators Looking at Individual Roles, Vance Says

July 1 (Bloomberg) -- BNP Paribas SA investigations continue, with some prosecutors looking into which individuals may have played roles in violating U.S. sanctions, Manhattan District Attorney Cyrus Vance Jr. said.

New York State has more time to pursue criminal charges against individuals than other jurisdictions where the statute of limitations may have expired, Vance said today, a day after the Paris-based bank agreed to plead guilty to U.S. sanctions violations and pay $8.97 billion.

“I can tell you the investigation continues,” Vance said in a Bloomberg Television interview. In addition, “you will see significant and continuing investigations going forward” against other potential violators, he said.

BNP Paribas, France’s largest bank, admitted in court documents yesterday that it processed almost $9 billion in banned transactions from 2004 to 2012 involving Sudan, Iran and Cuba. The company will be barred from U.S. dollar-clearing operations for one year for its oil and gas commodity finance business, and it promised not to employ 13 key executives.

The bank’s case is the seventh that Vance’s office has investigated regarding sanctions violations.

To contact the reporter on this story: Tiffany Kary in New York at tkary@bloomberg.net

To contact the editors responsible for this story: Michael Hytha at mhytha@bloomberg.net Stephen Farr, Fred Strasser

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.