BNP pleads guilty in U.S. sanctions case, to pay $8.8 billion

BNP Paribas on Monday pleaded guilty to two criminal charges and agreed to pay $8.83 billion in a broad agreement with U.S. authorities over charges the French bank violated U.S. sanctions laws. A lawyer for BNP briefly appeared in New York state court on Monday and pleaded guilty to one count of falsifying business records and one count of conspiracy. Assistant District Attorney Ted Starishevsky said the bank engaged in a "long-term, multi-jurisdictional conspiracy" to violate sanctions laws by facilitating transactions involving Sudan, Cuba, and Iran. "This conduct, this conspiracy was known and condoned at the highest levels of BNP," Starishevsky said.

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