We reported last week that Standard Chartered could face a possible $1.5 billion fine after US regulators engaged in negotiations with the bank into whether it had processed US dollar transactions for Iranian entities after entering into a US Deferred Prosecution Agreement (DPA) in 2012.
This week, US prosecutors have now informed Standard Chartered that criminal charges may be brought against two of the bank’s former employees over the Iran sanctions violations. The bank has yet to comment on both issues.
Maya Lester QC is a senior barrister (Queen’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. The legal directories say she is the...See profile for Maya Lester QC >