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News Breaks
July 25, 2014
06:19 EDTBNPQYUSDA announces $80M False Claims Act judgement entered against BNP
The Department of Justice announced today that an $80M False Claims Act judgment was entered against BNP Paribas for submitting false claims for payment guarantees issued by the U.S. Department of Agriculture. The judgment entered by the court resolves the governmentís allegations that, from 1998 to 2005, BNP Paribas participated in a sustained scheme to defraud the SCG Program. The resolution of this matter was the result of a coordinated effort among the Commercial Litigation Branch of the Justice Departmentís Civil Division, the USDA, the USDA Office of Inspector General, the U.S. Postal Inspection Service and the Internal Revenue Service Criminal Investigation. Reference Link
News For BNPQY From The Last 14 Days
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November 24, 2015
06:02 EDTBNPQYBNP Paribas among companies interested in GE unit, Reuters reports
BNP Paribas (BNPQY), La Banque Postale and CM-CIC are said to be interested in buying the European factoring division of General Electric (GE), Reuters reports, citing a report from Les Echos. According to Les Echos, firms offers for the unit, which could value the business at EUR700M-EUR1B, are expected today. BNP Paribas is said to be interested in the business in France and Germany, the report says. Reference Link
November 20, 2015
05:51 EDTBNPQYBNP Paribas to pay $59.8M in Swiss bank settlement, Bloomberg reports
BNP Paribas has agreed to pay $59.8M and revealed Swiss banking secrets in detail to avoid U.S. prosecution, reports Bloomberg. Some of the secrets include assets restructured into Liechtenstein-linked insurance policies, and a banker who agreed to communicate with one U.S. client by faxes or calls to a prepaid mobile phone. KBL and Bank CIC have also joined the program, paying $18.8M and $3.3M respectively. Reference Link
05:46 EDTBNPQYBNP Paribas dedicates EUR 15B in financing for renewable energy
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