According to Ben Rooney British banking giant
Standard Chartered allegedly helped Iran avoid sanctions by concealing $250
billion worth of transactions over nearly ten years, according to banking
regulators in New York.
The New York State Department of Financial
Services accused the London-based banking group Monday with concealing 60,000
transactions with Iranian clients, including the Central Bank of Iran, from
2001 to 2010.
Standard Chartered shares listed on the London
Stock Exchange ended the day higher as the news from New York broke after the
markets were closed in Europe. But thinly traded shares of Standard Chartered
(SCBFF) listed on U.S. over-the-counter exchanges fell more than 10% on high
volume….
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