White Collar Crimes

Criminal Penalties Against Banks Leads to Windfall for D.A.

November 30, 2015

You may recall allegations against various banks – notably HSBC and others – for money laundering and violation of U.S. trade sanctions. Interestingly, the criminal cases against the banks (HSBC, Standard Chartered and BNP Paribas), have led to a windfall for the Manhattan D.A.’s office. District Attorney Cyrus Vance Jr. has announced a number of programs to be funded by the more than $800 million in criminal penalties collected from the banks. The money must […] Read On