30th Oct 2014 06:43
LONDON (Alliance News) - US federal and state prosecutors have reopened investigations into Standard Chartered PLC to determine whether the bank withheld evidence of Iran sanctions violations, Bloomberg reported on Thursday, citing two people briefed on the matter.
The US Justice Department, Manhattan District Attorney Cyrus Vance Jr and New York Department of Financial Service Superintendent Benjamin Lawsky are all reopening their inquiries into the bank to determine if it deliberately withheld information from regulators prior to the 2012 deferred prosecution agreement, Bloomberg added.
The bank paid USD340 million to the New York Department of Financial Services in August 2012 for its role in hiding or disguising the identity of Iranian clients in billions of dollars in wire transfers.
http://www.bloomberg.com/news/2014-10-30/standard-chartered-bank-of-tokyo-said-getting-new-review.html
By Sam Unsted; [email protected]; @SamUAtAlliance
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