DOJ Says Deal Reached to End Case Against Turkey’s Halkbank (1)

The Justice Department said a deal has been reached to resolve a long-running US criminal case against Turkish state-owned lender Turkiye Halk Bankasi AS over alleged Iran sanctions violations.

A deferred prosecution agreement between the US and Halkbank was filed in Manhattan federal court Monday. Such agreements typically allow prosecutors to pause a criminal case, with the intention of dismissing it later if certain conditions are met.

US District Judge Richard Berman would have to approve the deal, which requires Halkbank to hire an anti-money laundering expert review its compliance with US sanctions. The judge is holding a hearing on ...