BNP Paribas sentenced to five-year probation for violating US sanctions
Updated : 18:04
A US court has ordered BNP Paribas to forfeit $8.83bn and pay a $140m fine as part of a five-year sentenced probation for violating sanctions against Cuba, Sudan and Iran.
The bank in July pleaded guilty to conspiring from 2004 to 2012 to violate the International Emergency Economic Powers Act and the Trading with the Enemy Act.
The sentence, imposed by US district judge Lorna Schofield in Manhattan, followed the terms of a heavily negotiated plea deal.
The Justice Department said is the first time a global bank has pleaded guilty to violations of US economic sanctions.