British American Tobacco to pay record $629 million fine over North Korea sales



News British American Tobacco to pay record $629 million fine over North Korea sales Cigarette makers staged ‘elaborate scheme’ that fueled regime’s habit and violated sanctions, US authorities say Shreyas Reddy April 26, 2023 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON North Korean soldiers smoking cigarettes in Pyongyang \| Image: Eric Lafforgue (April 2008) A leading tobacco company has agreed to pay a record $629 million in penalties and fines to resolve bank fraud and sanctions violation charges associated with its tobacco operations in North Korea, the U.S. Department of Justice announced Tuesday. British American Tobacco (BAT) has entered into a deferred prosecution agreement and its subsidiary BAT Marketing Singapore (BATMS) pleaded guilty to charges of conspiracy to commit bank fraud and violate the International Emergency Economic Powers Act (IEEPA), according to a Justice Department press release. A leading tobacco company has agreed to pay a record $629 million in penalties and fines to resolve bank fraud and sanctions violation charges associated with its tobacco operations in North Korea, the U.S. Department of Justice announced Tuesday. British American Tobacco (BAT) has entered into a deferred prosecution agreement and its subsidiary BAT Marketing Singapore (BATMS) pleaded guilty to charges of conspiracy to commit bank fraud and violate the International Emergency Economic Powers Act (IEEPA), according to a Justice Department press release. Become a member for less than $5.75 per week. Unlimited access to all of NK News: reporting, investigations, analysis The NK News Daily Update, an email newsletter to keep you in the loop Searchable archive of all content, photo galleries, special columns Contact NK News reporters with tips or requests for reporting Get unlimited access to all NK News content, including original reporting, investigations, and analyses by our team of DPRK experts. Subscribe now All major cards accepted. No commitments – you can cancel any time. © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. Get the Daily Update Start your day with the North Korea stories that matter most – as selected by And how should we address you in correspondence? One more step! Please check your inbox, for an email we just sent you, and click on the confirmation message in it to get subscribed to our Daily News Update. Trending

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British American Tobacco to pay record $629 million fine over North Korea sales

Cigarette makers staged ‘elaborate scheme’ that fueled regime’s habit and violated sanctions, US authorities say

Shreyas Reddy April 26, 2023

British American Tobacco to pay record $629 million fine over North Korea sales

North Korean soldiers smoking cigarettes in Pyongyang | Image: Eric Lafforgue (April 2008)

A leading tobacco company has agreed to pay a record $629 million in penalties and fines to resolve bank fraud and sanctions violation charges associated with its tobacco operations in North Korea, the U.S. Department of Justice announced Tuesday.

British American Tobacco (BAT) has entered into a deferred prosecution agreement and its subsidiary BAT Marketing Singapore (BATMS) pleaded guilty to charges of conspiracy to commit bank fraud and violate the International Emergency Economic Powers Act (IEEPA), according to a Justice Department press release.

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