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Expected Sanctions Penalty Against Foreign Bank Delayed Until November
By Brian Monroe
printAn expected sanctions penalty by the Manhattan District Attorney's Office against a large foreign bank has been delayed until November due to negotiations, a government official said Wednesday. District Attorney Robert Morgenthau said on Sept. 8 that his office would announce a deferred prosecution agreement with an unnamed, "mainstream" bank within 30 days, a date now nearly two weeks old. The agreement is widely expected to rival the $350 million penalty paid by London-based Lloyds TSB in January for hiding transactions with Iran. The District Attorney's Office was unable to meet the original timeline because the negotiations are "complicated" and...
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