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US judge imposes daily fine of US$50,000 against Bank of China

Bank is being held in contempt for not turning over account information of customers accused of selling fake goods
Thursday, December 3, 2015 - 05:50

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The coercive fine will be imposed starting on Dec 8 unless Bank of China complies with subpoena requests for the records.

New York

A US judge will impose a daily fine of US$50,000 against Bank of China Ltd (BOC) starting next week after holding it in contempt for refusing to turn over account information on Chinese customers accused of selling counterfeit luxury goods.

In a decision made public on

sentifi.com

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