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>https://www.justice.gov/usao-sdny/pr/manhattan-us-attorney-announces-criminal-charges-against-soci-t-g-n-rale-sa-violations
==Manhattan U.S. Attorney Announces Criminal Charges Against Société Générale S.A. For Violations Of The
Bank to Pay Total Penalties of more than $1.3 Billion as part of Resolution with Federal and State Prosecutors and Regulators==
Geoffrey S. Berman, the United States Attorney for the Southern District of New York, James D. Robnett, the Special Agent in Charge of the New York Field Office of the Internal Revenue Service, Criminal Investigation (“IRS-CI”), and Mark Bialek, Inspector General, Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau (“IG-FRB/CFPB”), announced criminal charges against Société Générale S.A. (“SG” or the “Bank”) consisting of a one-count felony information charging SG with conspiring to violate the Trading with the Enemy Act (“TWEA”) and the Cuban Asset Control Regulations promulgated thereunder (the “Cuban Regulations”) for SG’s role in processing billions of dollars of U.S. dollar transactions using the U.S. financial system, in connection with credit facilities involving Cuba (the “Cuban Credit Facilities”). The case is assigned to United States District Judge P. Kevin Castel.
Mr. Berman also announced an agreement (the “Agreement”) under which SG agreed to accept responsibility for its conduct by stipulating to the accuracy of an extensive Statement of Facts, pay penalties totaling $1,340,165,000 to federal and state prosecutors and regulators, refrain from all future criminal conduct, and implement remedial measures as required by its regulators. Assuming SG’s continued compliance with the Agreement, the Government has agreed to defer prosecution for a period of three years, after which time the Government will seek to dismiss the charges. The $1.34 billion in penalties represents the second largest penalty ever imposed on a financial institution for violations of U.S. economic sanctions.
The penalty shall be collected, in part, through SG’s forfeiture to the United States of $717,200,000 in a civil forfeiture action also filed today. Of that amount, one-half shall be transferred to the United States Victims of State Sponsored Terrorism Fund, pursuant to the Justice for United States Victims of State Sponsored Terrorism Act. In addition, SG has reached separate agreements with the New York County District Attorney’s Office (“DANY”), United States Department of the Treasury, Office of Foreign Assets Control (“OFAC”), the Federal Reserve Board of Governors and the Federal Reserve Bank of New York (collectively the “Federal Reserve”), and the New York State Department of Financial Services (“DFS”), under which it shall pay additional penalties of $622,965,000 as follows: $162,800,000 to DANY; $53,900,000 to OFAC; $81,265,000 to the Federal Reserve; and $325,000,000 to DFS.