U.S. seeking multi-billion dollar settlement with France’s biggest bank: report

By Agence France-Presse
Thursday, May 15, 2014 8:15 EDT
google plus icon
BNP Paribas (AFP)
  • Print Friendly and PDF
  • Email this page

US authorities are seeking several billion dollars from BNP Paribas to settle a probe into whether it violated US sanctions on several countries, the Wall Street Journal reported late Wednesday.

The total would be higher than what had been estimated in press reports said far.

The bank has told the French government it may be hit with fines exceeding three billion dollars, the Journal said. The Financial Times has said the figure could be in excess of 3.5 billion dollars.

But US officials are pushing the bank to pay billions more than the figure cited by BNP Paribas, the Journal said, quoting people with direct knowledge of the matter.

US prosecutors say that between 2002 and 2009 the bank violated US sanctions by doing business with Iran, Sudan and Cuba.

BNP chief executive Jean-Laurent Bonnafe, who came to the US last week to defend the bank, said Wednesday he was confident it could settle the affair.

Agence France-Presse
Agence France-Presse
AFP journalists cover wars, conflicts, politics, science, health, the environment, technology, fashion, entertainment, the offbeat, sports and a whole lot more in text, photographs, video, graphics and online.
By commenting, you agree to our terms of service
and to abide by our commenting policy.