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Banks Receive Praise and a Warning in Press Conference Announcing Indictments Tied to Iranian Shipper
By Brian Monroe and Kieran Beer
printBanks were the subject of praise and a warning at a press conference on Monday unveiling a 317 count indictment against 11 corporations and five individuals for their alleged participation in a conspiracy involving an Iranian shipping company. Manhattan District Attorney Cyrus R. Vance characterized nine banks as victims of deception when they processed more than $60 million of payments for the Islamic Republic of Iran Shipping Lines (IRISL) in violation of U.S. sanctions. The banks "were not complicit in any way, but on the contrary have been very helpful" during the 14-month investigation that culminated in the indictments, said...
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