FED JUDGE OKAY’S BARCLAY’S “SWEETHEART DEAL” OVER FAKING RECORDS

U.S. District Judge Emmet G. Sullivan APPROVED a proposed agreement between New York prosecutors and Barclay’s PLC relating to altering financial records to hide the movement of funds into the U.S. from Iran, Cuba and other prohibited countries. However, he called it a “sweetheart deal” and said he thought prosecutors were too lenient on the bank. Last year, Lloyds had to pay $350 million in a case involving similar accusations.