Barclays' $298M Sanctions Deal Approved

Law360, New York (August 18, 2010, 6:42 PM EDT) -- A federal judge has given the green light to a deal in which British banking giant Barclays PLC will shell out $298 million to settle criminal charges by the U.S. Department of Justice that it facilitated transactions for banks in Cuba, Iran and other countries in violation of U.S. sanctions.

The approval Wednesday by Judge Emmet G. Sullivan of the U.S. District Court for the District of Columbia opened the door for a deferred prosecution agreement under which the bank will voluntarily cooperate with investigators for...
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