As part of guilty plea, Wegelin agreed to pay $74 million in fines, restitution and forfeiture proceeds to the United States government.
The sum includes fines, restitution and forfeiture proceeds and will be paid from funds the bank had set aside for legal proceedings.
As part of the plea agreement, BP will pay $50 million in criminal fines for the 2005 explosion and $20 million in fines, restitution and other payments for the pipeline leaks.
"While the S.E.C.'s document puts in place a few governance reforms that are beneficial," he said in an interview yesterday afternoon, "the critical issues relating to fines, restitution, penalties and a governing structure that will address the exorbitant fees that have been raked out of the pockets of investors are unaddressed in this document.
When partners messed up — as a few did in the firm's municipal finance department in the 1990s, forcing the firm to pay $100 million in fines, restitution and legal fees — the burden of the mistake was also shared by all, through a reduction in the pre-tax profits of the firm.
(BLOOMBERG NEWS Nuclear Plant Owner Finedd for Hiding Damage The owner of an Ohio nuclear plant agreed to pay $28 million in fines, restitution and community service yesterday over the cover-up of an acid leak that nearly ate through the reactor vessel's 6-inch-thick steel cap.
They said the state should seek fines, restitution for victims and injunctive relief, such as barring CarMax from selling unrepaired recalled cars.
Mr. Watson agreed to pay a $50,000 fine and restitution of $17,325; Mr. LaGreca agreed to pay a $25,000 fine and $46,947 in restitution.
He faces a maximum sentence of 10 years in prison, $150,000 fine and restitution.
"Our part, the administrative fine and restitution to consumers, is pretty much done".
