Deutsche Bank To Pay $583K To End Ukraine Sanctions Probe
Law360 (September 9, 2020, 7:55 PM EDT) -- Deutsche Bank Trust Co. America agreed Wednesday to pay $583,100 to resolve the U.S. Department of the Treasury's investigations into the bank's apparent violations of Ukraine-related sanctions, a drop in the bucket compared to the maximum statutory penalty of $75.7 million.
The Treasury Department's Office of Foreign Assets Control said Wednesday that New York-based Deutsche Bank Trust Co. America violated Ukraine-related sanctions regulations when it processed a $28.8 million transaction in August 2015 that involved IPP Oil Products (Cyprus) Ltd., an entity on OFAC's list of Specially Designated Nationals and Blocked Persons.
The Treasury Department says the transaction violated former President...
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