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British American Tobacco enters deferred-prosecution agreement with US over North Korea scheme, subsidiary pleads guilty

( April 25, 2023, 20:36 GMT | Official Statement) -- MLex Summary: British American Tobacco (BAT) and its Singaporean subsidiary have agreed to pay combined penalties of more than $629 million to resolve bank fraud and sanctions violations charges with US authorities over a scheme to do business in North Korea, the US Department of Justice said. According to court documents, the subsidiary pleaded guilty to a criminal information, while BAT entered into a deferred prosecution agreement related to the same charges. Separately, charges were unsealed today 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.Statement and documents follow below:...

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