BNP Pleads Guilty to Breaking U.S. Sanctions

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July 1 (Bloomberg) -- A U.S. crackdown on financial institutions for alleged sanctions-busting threatens to penalize more European banks after France’s BNP Paribas SA was fined a record $8.97 billion for dealing with blacklisted countries. (Source: Bloomberg)


We will take care of some funny business on the red carpet.

First, we have to kick it off with what everyone is talking about, starting with the french bank that agreed to plead till to two charges it transferred almost $9 billion.

A complex and pervasive game to illegally move through the financial system into entities.

This is a serious breach of united states law.

Sanctions are a key tool in protecting united states national security interest that only work if they are strictly enforced.

Eric holder in a news conference yesterday.

Bnp will have to pay a record $1 billion.

We have held accountable france's largest bank for perpetrating what is violating and a hat trick of sanctions violations.

You see those guys?

Eric holder on the right.

Jim: of the left.

-- jimi cole on teh cole on the left.

Faithful than a record fine, got 13 bnp executive scott -- fired, including the chief executive officer and bar them from u.s. clearing dollar business for a year.

Bnp still ends up looking good.

The stock prices up over four percent.

Clearly a sigh of relief among investors.

Bnp moving ahead with the

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