H. Rodgin Cohen, senior chairman of Sullivan & Cromwell and banking lawyer extraordinaire, is leading a team from the firm advising London-based Standard Chartered, which was accused Monday by New York State’s banking regulator of hiding at least $250 billion in transactions with Iranian banks, corporations, and officials.
A source familiar with the money-laundering allegations levied against Standard Chartered by New Yorks Department of Financial Services (DFS) told The Am Law Daily that Cohen was serving as the banks lead lawyer in the United States. The firm did not immediately respond to a request for comment on the names of any other lawyers also representing Standard Chartered, whose stock price tumbled on the news of the latest scandal to plague a major financial institution.
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