Tobacco Company BAT Pleads Guilty to Violating U.S. Sanctions on North Korea

WASHINGTON—A U.K. tobacco company agreed to pay more than $635 million to resolve charges that itby selling cigarettes to North Korea in what Justice Department officials described as a brazen scheme to conceal illicit business by routing it through a third-party company in Singapore. The settlement payment was the largest penalty ever levied on a company for violating U.S. sanctions on Pyongyang.

The company, British American Tobacco PLC, entered into a deferred prosecution agreement with federal prosecutors over illegal sales that took place over more than a decade, even after the company announced that it had abandoned its North Korean business, U.S. officials said. But BAT, which makes Lucky Strike, Dunhill and Pall Mall cigarettes, continued selling tobacco products to the isolated regime through a Singaporean front company.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

British American Tobacco Hid North Korea Business for Years: FedsU.S. prosecutors have charged the company with helping Pyongyang skirt restrictions meant to freeze it out of the global banking system.
Källa: thedailybeast - 🏆 307. / 63 Läs mer »

Tobacco company pleads guilty to violating U.S. sanctions on North KoreaBritish American Tobacco, a London-based company with a subsidiary based in Singapore, must pay $630 million in fines to the U.S. government after pleading guilty to violating sanctions on North Korea
Källa: washingtonpost - 🏆 95. / 72 Läs mer »