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.
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