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BNP Paribas pleads guilty to work in blacklisted countries

By Associated Press

LAST UPDATED: 07:49 a.m. HST, Jul 10, 2014

NEW YORK » BNP Paribas, France's largest bank and the parent of First Hawaiian Bank, pleaded guilty Wednesday to a federal charge of violating U.S. economic sanctions by processing transactions for clients in blacklisted countries, a development that a Manhattan judge said should show that no financial institution is "immune from the rule of law."

The plea to conspiring to violate the International Emergency Powers Act and the Trading with the Enemy Act came a week after lawyers for the bank agreed to forfeit $8.8 billion as it pleaded guilty to similar charges in state court in New York City. The bank admitted processing billions of dollars in illegal transactions on behalf of clients in Sudan, Cuba and Iran.

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Wazdat wrote:
WHY did we let this bank and Mr. Horner have so much control over the choice of the rail car maker ? Ansaldo. CORRUPTION and conflict of interest is going on in the islands and no one is talking about it.
on July 10,2014 | 04:01AM
Imagen wrote:
Pay to Play is just how we role here in "the islands".
on July 10,2014 | 10:14AM
Mei mei wrote:
you have no idea what you are talking about... please know your facts prior to speaking... otherwise all you are doing is blowing a whole lot hot air!
on July 10,2014 | 05:01PM
Ronin006 wrote:
There is a simple answer. BNP Paribas is the major financier of Ansaldo-Breda, the company making rail cars for Honolulu's rail system. I am convinced there was a conflict of interest by Mr. Horner voting to select Ansaldo-Breda to build the rail cars. Unfortunately, the city's ethics officials standards are not as high as mine. It ruled that as CEO of FHB, Mr. Horner was too far removed from Ansaldo-Breda for there to have been a conflict of interest. Really?
on July 10,2014 | 05:40PM
wondermn1 wrote:
The investigation that should be taking place is a very slow process. The past City Council and the past 3 Mayors and City staff have taken advantage of Ansaldo,s reputation of CASH Bribery for favorable attention. Boy that opens a Pandora's box in Hawaii. It is going to reach back into MUFEES time and of course the fake groundbreaking during Carlier,s time and pitter patty pothole Caldwell who is owing to all the Unions and special interests in Hawaii. Its not to late to really have a federal investigation all we need is one person who is not on the take to lead and that is hard to find in the Democratic & PRP controlled state of Hawaii. All one needed was to open their eyes and watch the way the RAIL was built on a foundation of lies and backroom deals. Its not to late to investigate but we need someone who is immune from the powers that be in Hawaii and really wants the TRUTH.
on July 10,2014 | 04:23AM
bluebowl wrote:
Tom Berg comes to mind and General W. who ran for UH president. IMO these two men have integrity.
on July 10,2014 | 07:59AM
islandsun wrote:
If this were treated like a mainland city, the feds would be all over the corruption.
on July 10,2014 | 08:12AM
Uncleart66 wrote:
Everyone is paid for here.....
on July 10,2014 | 09:29AM
Honu89 wrote:
Thank you Walter Dods, enjoy the golden parachute they provided you.
on July 10,2014 | 09:07PM
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