BNP Said Close to $9 Billion Sanctions Accord With U.S.

BNP Paribas SA is close to an agreement to plead guilty and pay $8 billion to $9 billion to settle allegations it violated U.S. sanctions, according to a person familiar with the negotiations.

The French bank intentionally hid transactions amounting to about $30 billion that violated U.S. sanctions against countries including Iran and Sudan, said the person, who asked not to be identified because the discussions are confidential. Paris-based BNP Paribas will probably plead guilty in early July to a criminal charge of conspiring to violate the International Emergency Economic Powers Act, the person said.