US may charge 2 former StanChart employees over Iran sanctions violations

Standard Chartered.jpgWe reported last week that Standard Chartered could face a possible $1.5 billion fine after US regulators engaged in negotiations with the bank into whether it had processed US dollar transactions for Iranian entities after entering into a US Deferred Prosecution Agreement (DPA) in 2012.

This week, US prosecutors have now informed Standard Chartered that criminal charges may be brought against two of the bank’s former employees over the Iran sanctions violations. The bank has yet to comment on both issues.

This entry was posted in Iran, USA by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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