Barclays Bank to Forfeit $298 Million to Settle Criminal Charges
Federal prosecutors on Monday charged Barclays Bank in a two-count information alleging the financial institution violated economic sanctions in dealings with countries that include Iran, Cuba and Libya, court records show. The bank’s attorneys at Sullivan & Cromwell negotiated a deferred prosecution agreement with the government in which the London-based bank will pay $298 million to settle the criminal charges. Prosecution is deferred for two years.
View full post on Law.com – Newswire
$298, Bank, Barclays, charges, Criminal, forfeit, Million, Settle