A federal judge on Friday approved the failed Bank of Credit and Commerce International's guilty plea to a federal racketeering charge and ordered it to hand over all its U.S. assets.
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The forfeiture of $550 million in BCCI assets, approved by U.S. District Judge Joyce Hens Green, would be the largest in U.S. history.The judge said approval of the agreement was in the public's best interest because it would allow depositors to recover at least some of their lost money and assure BCCI's cooperation in the criminal prosecution of its founder and others.