Barclays Bank pays $298m to settle criminal charges

[Guy Whitey Corngood]

Source: BBC

Barclays Bank is to pay $298m (£190m) to settle criminal charges that it violated US sanctions in dealings with Cuba, Iran, Libya, Sudan and Burma.

The bank was charged with breaching the International Emergency Economic Powers Act and the Trading with the Enemy Act in dealings between 1995 and 2006.

The settlement was detailed in US court documents filed on Monday.

According to the documents, Barclays voluntarily disclosed some of the transactions, and co-operated fully


Read more: http://www.bbc.co.uk/news/business-10993161

[Demeter]

1. Very Suspicious

[onethatcares]

2. what it boils down to is

we'll pay a $2.98 fine for your allowing us to obtain $298,000.00 and you will not name the guilty parties that perpetrated this.

Do you realy think someone is gonna get spanked over this?

[metapunditedgy]

4. They're probably handing out big bonuses to the lawyers.

"We're prepared to pay up to $700M... you can have half of what's left of that money after the fine is settled."

[Guy Whitey Corngood]

5. Well no of course not. The idea of paying the 298,000,000 is to secure that no one

will go to jail over this.

[Downwinder]

3. Does Barclays and all of their employees have a criminal record now?

Are they going to get run in for any new crimes in the neighborhood?