- 21 Mar 2013 at 3:34 PM
Standard Chartered Chairman Misspoke When He Called Iranian Money-Laundering Business A ‘Clerical Error’By Jon Shazar
Apparently, when you’ve accepted responsibility for laundering money for rogue states—and entered into a deferred-prosecution agreement—you can’t turn around and refer to said money-laundering as NBD. Duly noted.
Authorities claimed that Standard Chartered had illegally processed millions of dollars’ worth of transactions for Iranian and Sudanese clients, and the bank admitted to “falsifying records” and “making false statements.”
But in a conference call about the bank’s annual earnings report on March 5, Mr. Peace referred to the transactions as “clerical errors,” adding that “we had no willful act to avoid sanctions.”
In a brief statement on Thursday, he retracted his comments, and reiterated the bank’s responsibility for the criminal activity related to the illegal money transactions.
“My statement that Standard Chartered had no willful act to avoid sanctions was wrong,” Mr. Peace said. The comment “directly contradicts Standard Chartered’s acceptance of responsibility.”
- Jefferies Exec Details All The Places He's Never Mistaken For A Toilet
- Every Sexual Harassment Allegation Against Fired Female HSBC Exec Is Worse Than The Last
- George Soros's Daughter-In-Law Wants To See The Part Of The Pre-Nup Where She Isn't Entitled To Every Last Cent
- If You've Got Train Fare, UBS Has Got An Exciting Opportunity In Stamford For You
- HSBC Adds Another Notch To The Ole 'Sued By An Employee Who Was Punished After Reporting Sexual Harassment' Belt
- Ken Griffin Introduces The Concept Of His Divorce Voice
- Bill Ackman Can't Possibly Be Expected To Remember All The Great Ideas He's Ever Had
- Opening Bell: 10.24.14
- Ray Dalio Will Not Have Some 2-Bit Ex-Employees Trading On His Name, Not Even If They've Got The Moves Of Fred Astaire
- Hedge Fund Manager Not Impressed By Marissa Mayer’s Victory Speech
- Executive Editor
- Bess Levin
How Can We Help You?
- Send tips to:
- For tech issues email:
- For advertising or events email:
- For research or custom solutions email:
- Dealbreaker is published by Breaking Media.
For a full list of our sites, services and staff visit breakingmedia.com