French bank that laundered money for Castro Mafia pleads “guilty as charged”
When there is money to be made, ethics often take a back seat. More often than not, ethics take the ejection seat.
Money-hungry Europeans and Canadians have been enabling the Castro Kingdom's top oligarchs for five and a half decades in myriad ways, ignoring their repressive ways and their colossal hypocrisy concerning "social justice."
Every now and then, however, one of these enablers gets caught red-handed, doing more for the Castronoids -- and other dastardly malfeasants -- than is allowed by U.S. law.
French Bank BNP Paribas is the latest, but certainly not the first or last of such enablers to get pinched.
Never let it be said that the "embargo" doesn't have something of a zing, even though it's blander and more full of holes than Swiss cheese.
From Juan Tamayo at the Miami Herald:
French bank handled $1.7 billion in illegal business with Castro Kingdom
The largest bank in France, BNP Paribas, disguised $1.75 billion in illegal transactions with Cuban entities as part of a long string of violations of U.S. sanctions that brought it a record $8.9 billion in forfeitures and fines, according to U.S. prosecutors.
A prosecution document on the case said BNP already has corrected its ways, “including terminating all business and prohibiting new business in any currency with sanctioned entities” in Cuba, Iran and Sudan.
It was not clear how the case would impact Cuba, already restricted by the U.S. embargo and U.S. laws and regulations on money laundering and terrorism financing. BNP shuttered its Havana office last year, after it came under U.S. investigation.
“This is a very important bank, but it doesn’t mean other banks won’t be able to do transactions,” said Luis F. Luis, a former chief economist at the Organization of American States who follows Cuban banking.
The U.S. Justice Department on Monday announced an agreement with BNP, under negotiation for several months, for the bank to forfeit $8.83 billion and pay a $140 million fine for violating U.S. sanctions on the three countries from 2000 to 2010.
The bank pleaded guilty to criminal charges in New York State and is expected to plead guilty to federal charges within a few weeks.
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