Bank boss says sorry for Iran claim

AOL Money Staff
Standard Chartered
Standard Chartered

Standard Chartered chairman Sir John Peace has made a humbling apology for wrongly claiming the bank had "no wilful" intention to breach US sanctions with Iran.

In an astonishing statement, Sir John admitted comments made in a press conference earlier this month were "both legally and factually incorrect" by contradicting the bank's acceptance of responsibility under its mammoth 667 million US dollar (£439 million) settlement last year.