Tobacco company settles with US over business in North Korea

By ERIC TUCKER
Associated Press

WASHINGTON (AP) — The Justice Department says a British tobacco company has agreed to a $629 million settlement to resolve allegations that it did illegal business with North Korea in violation of U.S. sanctions. British American Tobacco has entered into a deferred prosecution agreement with the Justice Department while the company’s Singapore subsidiary pleaded guilty to bank fraud and sanctions charges. BAT confirmed the settlement in its own statement, saying it resolves “previously disclosed investigations into suspicions of sanctions breaches.”