PARIS (AP) -- A Paris court has acquitted French bank Societe Generale and its chairman Daniel Bouton in a case of money laundering between France and Israel.
But the National Bank of Pakistan has been convicted in the case and fined euro200,000 ($264,300). The court has also convicted two of the Pakistani bank's executives, handing them suspended 2-year prison sentences and euro20,000 fines.
Prosecutors alleged that several banks failed to properly monitor checks drawn on French accounts that were subsequently cashed in Israel.
Bouton was in court when it delivered its verdict Thursday and then left by a side door.
The case centered on five networks, four made up of shopkeepers and companies and the fifth of various Israeli associations.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
To comment, the following rules must be followed:
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.