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.