On 30 June 2014 BNP pleaded guilty to one count of falsifying business records (in the first degree) and one count of conspiracy (in the second degree) in order settle a claim brought against the bank by the US Department of Justice (“DoJ”) in the United States District Court of the Southern District of New York. BNP has also agreed to discipline 45 employees, including terminating contracts for 13 employees. BNP will enter a formal guilty plea in relation to a related federal case on 9 July 2014. US Attorney General Eric Holder stated in relation to the settlement that BNP had “ignored US sanctions law and had gone to “elaborate lengths” to conceal its behavior… Banks thinking about conducting business in violation of US sanctions should think twice because the Justice Department will not look the other way.”