BNP faces investigation of asset workout group
Reports of $4 million missing from P&L, two employees fired by the French bank
French banking giant BNP Paribas has fired two of its employees in its US asset workout business, which deals in distressed debt and the securities of bankrupt companies, according to a company spokesperson. Additionally, the Manhattan District Attorney’s office is investigating the accusations of improper activities in that unit.
In early April, BNP announced that the firm had fired managing director Edward Canale, the head of the asset workout group, and one of his subordinates—unnamed as of
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