Barclays pays in trade case

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorBrake For ItThe Most Worthless Cars Ever MadeBrake For ItTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite Herald BARCLAYS last night struck a $298m (£192m) deal with US authorities over charges it violated trade sanctions.The shock announcement came just 24 hours after the judge who endorsed the settlement branded it a “sweetheart deal” which the government should be concerned about.The banking giant was in the dock over allegations it broke the Trading with the Enemy Act and Emergency Economic Powers Act by conducting $500m worth of deals with Cuba, Iran, Libya, Sudan and Myanmar between 1995 and 2006.Judge Emmet Sullivan grudgingly approved the agreement after an hour-long hearing but slammed the culture in which bankers can “come into court, plead guilty, go back on the subway, go home and watch soap operas and life goes on”. He was furious the bank did not plead guilty despite accepting some of its staff had changed the wording on several transfers to hide their origin. He was also angry that the fine would be paid by shareholders instead of executives.Under the deal reached with the US Justice Department, Barclays will pay $149m to the US government and a separate $149m in a deferred prosecution agreement with the district attorney. KCS-content Share Wednesday 18 August 2010 8:35 pm whatsapp Show Comments ▼center_img whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Barclays pays in trade case Tags: NULLlast_img