U.S. authorities are seeking more than $3.5bn from BNP Paribas to resolve federal and state investigations into the lender’s dealings with sanctioned countries including Sudan and Iran, according to people familiar with the matter.
Bloomberg News reports that the agreement, which could come in the next month, is still being negotiated and the amount of the settlement could be higher than $3.5bn, said four people who asked not to be named because the discussions are private. U.S. prosecutors are also seeking a guilty plea from BNP, the people said.
BNP said last month it may need more than the $1.1bn it has set aside to settle the case. Julia Boyce, a BNP spokeswoman, declined to comment.
The BNP case marks a shift by U.S. prosecutors who are vowing not to give banks special treatment because of their size and influence on the economy.
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