BNP Paribas said to have 'sacrificed' trader - who now seeks $3.2m

A BNP Paribas trader fired amid a U.S. probe into sanctions violations asked a Paris employment tribunal for about $3.2m days after the same court awarded Jerome Kerviel more than $506,745.

Bloomberg News reports that Philippe de Gentile, former head of structured finance in the bank’s Geneva office, was “sacrificed” during a U.S. investigation into allegations that the bank violated sanctions against Sudan and Iran, his lawyer said.

The 63-year-old De Gentile "was sacrificed simply so that BNP Paribas could give names to the Americans," his lawyer, Chantal Giraud-van Gaver, said at a court hearing in Paris.

BNP Paribas agreed to pay a $9bn fine in the U.S. after admitting that it processed that amount in banned transactions from 2004 to 2012 involving Sudan, Iran and Cuba. The bank had to pay more than other lenders punished for breaking sanctions because its violations were more egregious and it didn’t cooperate fully, prosecutors have said.

To access the complete Bloomberg News article hit the link below:

BNP Paribas Trader ‘Sacrificed’ in Probe Seeks $3.2 Million

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