Skip to comments.Manhattan U.S. Attorney Announces Criminal Charges Against Société Générale S.A. For Violations of
Posted on 11/19/2018 5:02:29 PM PST by bitt
Bank to Pay Total Penalties of more than $1.3 Billion as part of Resolution with Federal and State Prosecutors and Regulators
Geoffrey S. Berman, the United States Attorney for the Southern District of New York, James D. Robnett, the Special Agent in Charge of the New York Field Office of the Internal Revenue Service, Criminal Investigation (IRS-CI), and Mark Bialek, Inspector General, Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau (IG-FRB/CFPB), announced criminal charges against Société Générale S.A. (SG or the Bank) consisting of a one-count felony information charging SG with conspiring to violate the Trading with the Enemy Act (TWEA) and the Cuban Asset Control Regulations promulgated thereunder (the Cuban Regulations) for SGs role in processing billions of dollars of U.S. dollar transactions using the U.S. financial system, in connection with credit facilities involving Cuba (the Cuban Credit Facilities). The case is assigned to United States District Judge P. Kevin Castel.
Mr. Berman also announced an agreement (the Agreement) under which SG agreed to accept responsibility for its conduct by stipulating to the accuracy of an extensive Statement of Facts, pay penalties totaling $1,340,165,000 to federal and state prosecutors and regulators, refrain from all future criminal conduct, and implement remedial measures as required by its regulators. Assuming SGs continued compliance with the Agreement, the Government has agreed to defer prosecution for a period of three years, after which time the Government will seek to dismiss the charges. The $1.34 billion in penalties represents the second largest penalty ever imposed on a financial institution for violations of U.S. economic sanctions.
(Excerpt) Read more at justice.gov ...
French banking giant. Comes out of petty cash or govt funds.
Other banking institutions will be very careful when dealing with the murderous bastards, CASTRO, INC.
You're right.....they'll be very careful....but they won't stop.
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