US authorities are seeking more than US$10 billion from BNP Paribas to settle investigations into the French bank’s dealings with sanctioned countries such as Sudan and Iran, Bloomberg reported Friday, citing a person familiar with the matter.
Prosecutors are also pressing the company to plead guilty to moving funds for clients in violation of sanctions against Sudan, Iran and Cuba, the report said.
The settlement could be the largest criminal penalty in the US, eclipsing BP Plc’s US$4 billion deal with the Justice Department last year, it said.
A final deal could, however, be weeks away, according to the source.
The French government hasn’t been involved in the US discussions over BNP, as it views the case as a legal matter that must follow its own course, the report said.
– Contact us at [email protected]