BNP nears deal with US prosecutors over record fine
French bank BNP Paribas is nearing a settlement with US prosecutors to have a 7.3 billion euros fine reduced to 6.6 billion euros, The Wall Street Journal reported on Sunday.
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As part of the deal, BNP would accept other punitive measures for violating American sanctions - against Iran, Sudan and Cuba between 2002 and 2009, by handling 22 billion euros transactions with these countries.
The French bank would face a months-long ban on transactions in US dollars.
US prosecutors have also requested that 12 officials step down over their role in the scandal.
George Chodron de Courcel, BNP chief operating officer and Dominique Rémy, senior executive, resigned in mid-may.
According to The Wall Street Journal, BNP used regional banks abroad to route 73 billion euros, and eventually deliberately hid 22 billion euros to avoid US sanctions.
Most of the transactions involved Sudan, Iran and other countries under US sanctions.
BNP is to plead guilty in early July while President Hollande has criticized the size of the fine as disproportionate to the offences.
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