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FBN's Liz MacDonald on New York regulators accusing Standard Chartered of laundering $250 billion for Iran.
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The UK bank standard chartered could be the first major World Bank to lose the ability to operate in this very country.
Standard chartered rejecting charges however that it hit a quarter of a trillion dollars in deals with -- -- and banks doing business with Iran.
-- with the Bob lot on this story she continues to follow it you know yet you know what is coming up in her emails about what is going on with standard chartered bank.
That being accused of money laundering on behalf Iran including Iran's central banks and Iran's state owned banks.
-- CEO of that standard charters Americas group wrote a panicked quote panicked email that's according to senior state department of finance.
To the -- official overseas in London and essentially saying look we face catastrophic reputation -- damaged.
We also faced serious criminal liability.
Look don't what the standard chartered exact -- and response he wrote back view.
Flanking Americans who're you to tell us the rest of the world that bracket a deal with the Iran -- -- as you pointed out.
Bad according to -- moved through the New York branch on behalf of -- and banks that's again coming from the New York department of finance.
Forged documents a staggering cover of a culture of greed is being accused here.
-- -- its signature is being accused of being so close to Iran's oil company for example.
That there executive was the beast being treated that the -- and treasurer frank removing the -- -- dollar trades through the New York branch so the bottom line here is.
Standard chartered already Dan hitting 24 year lows losing about -- -- -- fifth of its market cap.
They could lose up to 40%.
Of its profits if he basically gave -- -- licensed operating New York gets revoked and they're clearing operations here in the states.
Are shut down Factiva.
Mr.
-- or we should know about the license yet that's an important point they -- August 15 hearing appear in New York State thank you -- in New York City actually right.
-- you know the.
