BNP Paribas on probation

BNP Paribas was sentenced to five years probation by a U.S. judge on Friday in connection with a record $8.9bn settlement resolving claims that it violated sanctions against Sudan, Cuba and Iran.

Reuters reports that U.S. District Judge Lorna Schofield in Manhattan formally ordered the French bank to forfeit $8.83bn and pay a $140m fine as part of a sentence.

The case marked the first time a global bank pleaded guilty to violations of U.S. economic sanctions, the Justice Department said.

The sentencing followed BNP Paribas' guilty plea in July to conspiring from 2004 to 2012 to violate the International Emergency Economic Powers Act and the Trading with the Enemy Act.

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BNP Paribas sentenced in $8.9 billion U.S. sanctions accord

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