Tobacco giant to pay historic DOJ settlement for North Korea business

The U.S. Department of Justice announced that British American Tobacco and BAT Marketing Singapore — a subsidiary of the tobacco giant — would pay a historic penalty related to violations of U.S. sanctions on North Korea.

"The agreement and the plea resolve charges for bank fraud and for violations of U.S. sanctions against North Korea. Under this agreement, British American Tobacco will pay more than $629 million in penalties. This is the single largest North Korean sanctions penalty in the history of the Department of Justice," said Matthew Olsen, a DOJ assistant attorney general.

Matthew M. Graves, a U.S. attorney, said,"The charges unsealed today illustrate that the Department of Justice will hold North Korean facilitators accountable for their illegal efforts to prop up the North Korean regime, and assist it in obtaining funds to develop nuclear weapons."

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