HERE’S AN INTERESTING DEVELOPMENT in an ongoing scandal:

LOS ANGELES (Reuters) – French bank Credit Lyonnais and a French government agency pleaded guilty on Tuesday to U.S. felony charges stemming from the takeover of a failed California insurer as part of a $772 million settlement reached last month. . . .

A separate settlement resolved all federal claims against French billionaire Francis Penult and his holding company, Artemis S.A., which agreed to pay $185 million in fines.

I’ll bet there’s an interesting backstory.