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    BNP has accepted one year temp. suspension starting January 1, 2015

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    PressTV

    by PressTV

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    France's largest bank B-N-P Paribas faces a nine-billion dollar fine, after pleaing guilty for breaching U-S trade sanctions by conducting currency transactions for clients in Sudan, Cuba, and Iran.

    In response to the allegations, B-N-P has accepted a temporary suspension of one year, starting January first, 20-15. B-N-P has agreed to compensate for the largest penalty ever, in any court case involving a bank. The U-S Justice Department accuses the bank of withholding thousands of transactions made to U-S-opposing countries from 20-04 to 20-12. Sanctions were imposed on Sudan, Cuba, and Iran to cripple the economies of the countries, by suspending their access to banks and restricting their participation in the global financial system. B-N-P has removed thirteen employees, including the chief operating officer as part of their settlement.