British American Tobacco Plc (BAT) has agreed to pay more than $635m to US authorities after a subsidiary pleaded guilty to charges that it conspired to violate American sanctions by selling tobacco products to North Korea and commit bank fraud, a US court filing and the company said on Tuesday.The tobacco sales to the isolated communist nation at the heart of Tuesday’s settlement took place from 2007 to 2017, according to both the company and the Department of Justice. North Korea faces an array of United States sanctions to choke off funding for its nuclear and ballistic missile programme.“This case and others like it do serve as a warning shot to companies,” Matthew Olsen, Assistant Attorney General of the Department of Justice’s National Security Division, told a news conference.
Load More
Load More