By Jeff Dale2023-09-22T18:34:00
The Treasury Department’s Office of Foreign Assets Control (OFAC) ordered multinational conglomerate 3M to pay more than $9.6 million over apparent Iran sanctions violations by its subsidiary and a U.S. employee of a separate subsidiary.
Switzerland-based 3M (East) AG knowingly sold reflective license plate sheeting (RLPS) via a German reseller to entities linked to Iranian law enforcement, OFAC said in its enforcement release Thursday. Additionally, a U.S. person working for 3M’s Dubai-based subsidiary, 3M Gulf Limited, was closely involved in the sales, OFAC alleged.
OFAC acknowledged 3M voluntarily self-disclosed the apparent violations but deemed the case to be egregious because of the aggravating factors. The company terminated and formally reprimanded six employees involved, among other mitigating factors.
2023-12-11T16:43:00Z By Kyle Brasseur
Nasdaq agreed to pay more than $4 million as part of a settlement with the Office of Foreign Assets Control addressing apparent Iran sanctions violations at the stock exchange operator’s former Armenian subsidiary.
2023-09-22T16:01:00Z By Kyle Brasseur
New York-based Emigrant Bank agreed to pay nearly $32,000 as part of a settlement with the Office of Foreign Assets Control addressing apparent sanctions violations regarding an account it maintained for a pair of Iranian residents.
2023-08-25T17:10:00Z By Jeff Dale
The Securities and Exchange Commission ordered 3M to pay nearly $6.6 million for alleged violations of the Foreign Corrupt Practices Act regarding hidden travel perks its foreign subsidiary made to government officials in China.
2025-09-17T17:20:00Z By Adrianne Appel
A Florida seafood company executive has pleaded guilty to conspiring with competitors to fix the prices he paid to local fishers, an effort that impacted more than $8 million in wholesale fish and cut the pay of hundreds of fishers, the Department of Justice said.
2025-09-16T20:11:00Z By Adrianne Appel
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
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