BNP Paribas Chief Executive Officer Jean-Laurent Bonnafe in a message to employees has warned that the French bank is facing heavy penalties following a U.S. probe into breaking sanctions which should end "very soon", a French TV channel reported on Saturday. BNP Paribas declined to comment but sources this week said the French bank is expected to plead guilty to a federal criminal charge and pay nearly $9 billion as part of a larger settlement with multiple enforcement authorities that could be announced as early as next week. "I want to say it clearly, we are going to be heavily sanctioned," broadcaster iTele quoted Bonnafe as saying in an internal message posted on June 27. U.S. authorities are examining whether BNP Paribas evaded U.S. sanctions relating primarily to Sudan between 2002 and 2009 and whether it stripped identifying information from wire transfers so they could pass through the U.S. financial system without raising red flags, sources have said.
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