World's second-largest tobacco company to pay $635 million for violating sanctions against North Korea
British American Tobacco to pay $635 million for violating North Korea sanctions. The world's second-largest tobacco company has agreed to pay over $635 million to the United States after its subsidiary admitted to violations of sanctions against North Korea, the company announced Tuesday. The British American Tobacco subsidiary pleaded guilty to conspiring to commit bank fraud and violating U.S. sanctions against North Korea by selling tobacco products to the country between 2007 and 2017, according to newly unsealed court documents. "On behalf of BAT, we deeply regret the misconduct arising from historical Business activities that led to these settlements, and acknowledge that we fell short of the highest standards rightly expected of us," Jack Bowles, chief executive of BAT, said in the Tuesday statement. North Korean propaganda village "Gijungdong" is seen from an South Korea's observation post inside the JSA during a media tour at the Joint Security...