Daiwa Will Pay $340M to Settle Case

Daiwa Bank agreed Wednesday to pay $340 million to resolve 18 of the government's 21 charges in a massive fraud and conspiracy suit. In return for the guilty plea, the government agreed to drop the remaining claims.

The parties were scheduled to finalize the deal late Wednesday before a federal judge. The case stems from the bank's failure to promptly notify regulators of $1.1 billion in losses due to unauthorized trades.

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