Crédit Agricole Corporate and Investment Bank, a corporate and investment bank owned by Crédit Agricole, will pay $787.3 million in criminal and civil financial penalties for economic sanctions violations.
A one-count felony criminal information and a related civil forfeiture complaint were filed this week in federal court in the District of Columbia charging Crédit Agricole with knowingly and willfully conspiring to defraud the United States and to commit violations of the International Emergency Economic Powers Act (IEEPA) and the Trading With the Enemy Act (TWEA). Crédit Agricole has waived federal indictment, agreed to the filing of the information and civil forfeiture complaint, and has accepted responsibility for its criminal conduct and that of its employees.
