British American Tobacco Is Under Criminal Investigation
The tobacco industry continues to see tumultuous regulatory developments as the U.K.'s The Times reports British American Tobacco (NYSE: BTI) is under criminal investigation by the U.S. Justice Department and the Treasury Department's Office of Foreign Assets Control, a financial intelligence and enforcement agency, which are looking into suspected "breach of sanctions" allegations.
Although it's not clear where the breach is reported to have occurred, British American identifies both Cuba and Iran in its regulatory filings as two countries in which it does business that are subject to sanctions.
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Source Fool.com
