[ by Melanie Gretchen ]

Barclays is off the hook for a 2-year-old case involving its dealings with sanctioned countries.  In 2010, the British bank agreed to forfeit $298 million and enter a deferred prosecution agreement to resolve charges that it processed transactions for customers in Cuba, Iran, Sudan, and other countries subject to U.S. economic sanctions.

Dismissal. As part of the deal, the DOJ agreed to dimiss the case provided Barclays abided by the terms of the deal.  At the Washington hearing when when the settlement was originally filed, U.S. District Judge Emmet Sullivan questioned whether it amounted to a fine if the bank only paid back the money involved.  Nevertheless, he granted a request to dismiss charges the U.S. filed against the bank in August 2010.  Precedent includes other agreements entered into by federal and state prosecutors with big banks to resolve sanctions violations.

For further details, go to [Reuters, 12/4/12].