BNP Paribas Hit With €303M Suit In Dutch Bribery Battle

Law360, London (October 9, 2020, 5:36 PM BST) -- A Dutch housing association has dragged BNP Paribas to court for €303 million ($360 million) over claims that the lender bribed one of the company's employees with "lavish and excessive hospitality" to enter risky speculative derivatives contracts that caused it to hemorrhage money.

A housing association wants to retrieve the €303 million ($360 million) that BNP Paribas allegedly made from risky speculative derivatives contracts. (iStock) Stichting Vestia said in a newly public Sept. 17 High Court filing that BNP Paribas SA lavished the association's treasury and control manager, Marcel de Vries, with entertainment to induce him into entering 46 derivatives trades...

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