Wednesday, April 26, 2023
| National Press Releases United States Obtains $629 Million Settlement with British American Tobacco to Resolve Illegal Sales to North Korea, Charges Facilitators in Illicit Tobacco Trade British American Tobacco (BAT) and its subsidiary, BAT Marketing Singapore (BATMS), one of the world's largest manufacturers of tobacco products based in the United Kingdom, have agreed to pay combined penalties of more than $629 million to resolve bank fraud and sanctions violations charges with U.S. authorities. The charges arose out of the companies' scheme to do business in North Korea through a third-party company in Singapore, in violation of the bank fraud statute and the International Emergency Economic Powers Act (IEEPA). Separately, charges have been unsealed in the District of Columbia against a North Korean banker and Chinese facilitators for their roles in facilitating the illicit sale of tobacco products in North Korea. April 25, 2023 | | Full Press Release |
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