Judge Releases Barclays From Criminal Sanctions Case
Law360, New York (December 4, 2012, 8:45 PM EST) -- A New York federal judge on Tuesday dismissed Barclays PLC from a criminal case alleging it facilitated transactions for banks in Cuba, Iran and other countries in violation of U.S. sanctions, two years after the bank forked over $298 million to settle the case.
U.S. District Judge Emmet G. Sullivan’s dismissal comes two years after Barclays agreed to a deferred prosecution agreement under which the bank voluntarily cooperated with U.S. Department of Justice investigators over the allegations that it violated the International Emergency Economic Powers Act and Trading With The Enemy Act.
The deal stipulated that Barclays would be tossed from...
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