{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Credit Lyonnais fined US$100m' data-url='/boclips/videos/5c54c260d8eafeecae15949b' data-video-url='/boclips/videos/5c54c260d8eafeecae15949b' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nCredit Lyonnais fined US$100m\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. News conference with US District Attorney Deborah Yang2. Officials from US Attorney's office 3. SOUNDBITE (English) Debra Yang, US District Attorney:\"Yesterday in court, this office filed documents which will lead Credit Lyonnais, CDR...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. News conference with US District Attorney Deborah Yang\u003cbr/\u003e2. Officials from US Attorney's office \u003cbr/\u003e3. SOUNDBITE (English) Debra Yang, US District Attorney:\u003cbr/\u003e\"Yesterday in court, this office filed documents which will lead Credit Lyonnais, CDR Enterprises, MAAF Assurances and MAAF Chairman Jean-Claude Seys to enter guilty pleas to felony charges that they made false statements to the  federal banking regulators in connection with the acquisition of junk bonds and the insurance business of the failed Executive Life Insurance Company of California.\"\u003cbr/\u003e5. Legal brief cover page detailing charges\u003cbr/\u003e6. Document\u003cbr/\u003e7. SOUNDBITE (English) Debra Yang, US District Attorney:\u003cbr/\u003e\"Under the terms of the plea agreement, Credit Lyonnais itself will be paying a 100 million (US) dollar criminal fine. This in and of itself is the largest criminal fine ever obtained in this district. Credit Lyonnais has also agreed to pay a 100 million (US) dollars in civil penalties to the (US) Federal Reserve (Bank) pursuant to a parallel administrative proceeding.\"\u003cbr/\u003e8. Legal brief cover page detailing additional charges on related crimes\u003cbr/\u003e9. Document\u003cbr/\u003e10. SOUNDBITE (English) Debra Yang, US District Attorney:\u003cbr/\u003e\"The indictment charges the six defendants in a wide ranging scope of fraudulent conduct that spanned more than a decade and included illegal secret agreements, false statements and the concealment of material information relating to Executive Live.\"\u003cbr/\u003e11. Reporters\u003cbr/\u003e12. SOUNDBITE (English) Ronald Iden, US Federal Bureau of Investigation:\u003cbr/\u003e\"Any financial institution, domestic or foreign, which engages in fraudulent business practices in the United States will face the full force of American justice.\"\u003cbr/\u003e13. News conference\u003cbr/\u003eThe United States (US) Federal Reserve Board fined French bank Credit Lyonnais 100 (m) million US dollars on Thursday as part of a 771 (m) million US dollars settlement agreement brokered with the US government by the bank and others tied to the illegal takeover of California insurer Executive Life.\u003cbr/\u003eFederal Reserve officials also said they would try to ban former Credit Lyonnais chairman and chief executive Jean Peyrelevade from the US banking industry and seek a 500-thousand US dollars civil penalty against him.\u003cbr/\u003eCredit Lyonnais issued a statement on Thursday saying it was \"pleased to have settled and resolved this matter.\"\u003cbr/\u003eThe action by the central bank came a day after US prosecutors in Los Angeles unsealed criminal indictments against Peyrelevade and five other former bank officials, including another former chief executive, Jean-Yves Haberer.\u003cbr/\u003eThe six officials were not covered by the settlement agreements completed earlier this week with Credit Lyonnais, French companies MAAF Assurances S.A., and Artemis S.A., and CDR-Enterprises S.A., a subsidiary of a French government agency.\u003cbr/\u003eCredit Lyonnais purchased Executive Life in the early 1990s, when US law barred banks from controlling insurers. \u003cbr/\u003eThe deal brought the bank and its affiliates (b) billions when junk bonds acquired in the deal ended up regaining value.\u003cbr/\u003e\"This was a fraudulent scheme of unprecedented complexity, scope and duration,\" U.S. Attorney Debra W.\u003cbr/\u003eYang said Thursday at a news conference.\u003cbr/\u003eYang's office filed the settlement agreements worth 771 (m) million US dollars with the federal court on Wednesday.\u003cbr/\u003eCredit Lyonnais and CDR-Enterprises each agreed to plead guilty to three counts of making false statements to federal regulators. \u003cbr/\u003eMAAF and its chairman, Claude Seys, each agreed to plead guilty to causing false 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