Standard Chartered PLC has responded to recent media reports about the Brutus qui tam case in the United States, stating that the allegations against the bank are unfounded. The company said claims regarding $9.6 billion in unlawful transactions are false and have been dismissed by US courts on several occasions.
A spokesperson for Standard Chartered commented, "We note reporting containing profound factual inaccuracies in the legacy Brutus qui tam case. The underlying allegations – including the claim that there are $9.6 billion in unlawful transactions – are entirely false and have been rejected by the US courts multiple times. We expect the dismissal of this case will continue to be upheld on appeal."
The bank indicated its willingness to work with authorities, saying, "We will of course fully cooperate with any relevant authorities to reassure them that these allegations are meritless. The facts have not changed."
Standard Chartered emphasized its commitment to regulatory compliance: "We remain resolute in our fight against financial crime in every location where we operate, including the United States. We maintain the highest level of compliance with sanctions laws and regulations."
The company also stated it would continue defending itself against what it described as groundless accusations: "We will continue to defend ourselves vigorously against baseless allegations by Brutus which seek to damage our reputation and are motivated by personal financial gain."
Previous statements from Standard Chartered related to this matter include a response following a favorable court ruling on November 16, 2024, and another addressing media reports dated June 4, 2024.
For more information about Standard Chartered’s legal matters or public statements, contact Robbie Sommerville at +44 7990 784 478.