UniCredit to pay $1.3 billion and plead guilty in U.S. sanctions probes

15 Apr 2019

UniCredit to pay $1.3 billion and plead guilty in U.S. sanctions probes

By Karen Freifeld

UniCredit, Italy’s biggest lender, will pay $1.3 billion to U.S. authorities to settle probes of violations of U.S. sanctions on Iran and other countries, U.S. authorities said on Monday.

The lender will also plead guilty in New York state court for illegally moving hundreds of millions of dollars through banks in Manhattan on behalf of sanctioned countries and entities, Manhattan District Attorney Cyrus Vance Jr. said in a statement.

The settlement is with the U.S. Department of Justice, the U.S. Treasury Department, the Federal Reserve, the Manhattan District Attorney and the New York Department of Financial Services.

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