London-based Standard Chartered will pay $1.1 billion to U.S. and British authorities for illegal financial transactions involving Iran and other sanctioned countries.
A former banker at the Dubai branch pleaded guilty in New York state court in connection with the conspiracy to violate sanctions. Also, a former customer of the bank’s Dubai branch was charged with participating in the conspiracy, according to an indictment unsealed in federal court in Washington, D.C.
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