Twentyexecutives at BNP Paribas SA'sArgentine unit, BNP Paribas –Sucursal Buenos Aires, have been indicted on charges of moneylaundering, Argentina's Public Prosecutor's Office said in a June 30 statement.

Argentinecriminal court Judge Osvaldo Rappa alleged that the executives formed part ofan illicit enterprise, which, operating through the unit's head office inBuenos Aires, laundered a total of around 12 billion Argentine pesos inundeclared income on behalf of clients.

Inhis 500-page ruling, the judge said there is enough evidence to launch criminalproceedings against the executives, five of whom are French citizens.The executives are accused of helping wealthy clients, including businessmen,union leaders and even a judge, in avoiding taxes.

Thenamed executives include Armand Augustin Abeillon, María Inés Armando, MichelMichael Basciano, Héctor Ignacio Borthaburu, Fernando Gabriel Celaya, LuisPablo Cremona, Christian Marie Francois Giraudon, Elba Ilda Guibernau, PhilippeYves Henri Joannier, Irma Haydee Ibrajimovich, Marina Judith Ini, Carlos RaúlLong Sansberro, Pedro Antonio Maffeo, Daniel Omar Monaco, Alexis Nicolás Quirotde Poligny, Osvaldo Daniel Rodríguez, Mariana Schuld, Santiago Virgilio TedinUriburu, Adriana Beatriz Terreni and Silvia Beatriz Zyla.

As of June 30, US$1 wasequivalent to 14.93 Argentine pesos.