A federal prosecutor is looking at nine unnamed European banks for helping Iranian and Sudanese clients undermine US trade regulations, according to the Financial Times.
Lloyd’s TSB will pay regulators $350 million after it admitted to helping Sudanese and Iranian clients enter the US market by altering wire transfer documents.
But Robert Morgenthau, the Manhattan district attorney, said the probe will expand on evidence that European banks helped Iran finance a large purchase of tungsten, which they claim would be used to build missiles.
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