Edward Canale and Michael Connolly, two former bankers in BNP Paribas' New York office have pleaded guilty to stealing $12m (€9.8m) from their former employer and face prison sentences of up to six years.

Canale was a managing director and head of the asset workout group in New York and Connolly a vice-president and manager of the New York distressed investing group.

BNP Paribas bankers to be jailed for $12m theft

Shanny Basar

BNP Paribas

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