BNP Pleads Guilty Again in $9 Billion U.S. Sanctions Accord

BNP Paribas, for the second time in nine days, pleaded guilty to conspiring to violate U.S. sanctions, as part of a nearly $9 billion settlement in which the French bank admitted to breaking embargoes against Sudan, Cuba and Iran. Prosecutors had accused the bank of processing billions of dollars through the U.S. financial system on behalf of the Sudanese and others barred because of human rights abuses, support for terrorists and other national security concerns. U.S. District Judge Lorna Schofield accepted the plea at a Wednesday hearing in Manhattan federal court. BNP Paribas admitted to having conspired from 2004 to 2012 to violate the International Emergency Economic Powers Act and the Trading with the Enemy Act. The Justice Department unveiled the record settlement July 1, when the bank pleaded guilty in New York state court to charges of falsifying business records and conspiracy brought by Manhattan District Attorney Cyrus Vance. Schofield scheduled sentencing for Oct. 3.

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