Barclays Bank has admitted it helped clients in Cuba, Iran, Libya and other sanctioned countries move hundreds of millions of dollars through its New York branch — and it has agreed to forfeit $298 million to the Feds and Manhattan DA’s office to avoid prosecution.
In admitting it hid the origins of these shady transactions for a decade, the London-based bank joins Lloyds of London and Credit Suisse, which last year forfeited a combined $886 million under deferred prosecution agreements similar to those filed yesterday in Manhattan and Washington.
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