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avoiding a criminal prosecution is a very big thing. Banks are typically much more eager to pay a massive civil fine rather than a much smaller criminal fine. H
by mark212 12y ago
avoiding a criminal prosecution is a very big thing. Banks are typically much more eager to pay a massive civil fine rather than a much smaller criminal fine. Having any kind of conviction as a corporation disqualifies a corporation (particularly a bank) from all kinds of things that it's effectively a death sentence. A major example of this was Arthur Andersen -- the criminal conviction for aiding the Enron fraud was enough to kill the business entirely, even though the conviction was later overturned on appeal.
- mikegioia 12y agoI think what evmar is saying is that the US District Attorney should not have given BNP the choice, but instead just filed the criminal case against them. They could have gotten the necessary documents through the subpoena, so the offer to comply and take the civil case is meaningless. What I think a lot of people would want to see is someone going to jail for this, hence the criminal case.