Credit Suisse Pays $536M Over Iran Transactions

Law360, New York (December 16, 2009, 6:53 PM EST) -- Credit Suisse AG has reached a $536 million settlement with U.S authorities, putting to rest allegations that the Swiss banking firm helped clients from countries currently subject to U.S. economic sanctions, including Iran, access the U.S. banking system.

New York District Attorney Robert Morgenthau said in a statement Monday that Credit Suisse had admitted to falsifying the records of New York financial institutions in violation of New York state law, allowing its Iranian, Libyan, Sudanese and other clients subject to U.S. sanctions to get access to...
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