By Jeff Dale2023-08-17T20:11:00
A New Jersey-based wholesale building materials company agreed to pay more than $660,000 as part of a settlement with the Treasury Department’s Office of Foreign Assets Control (OFAC) addressing three apparent sanctions violations in Iran.
Construction Specialties (CS) has 10 offices in the United States and 25 foreign affiliates, including Construction Specialties Middle East (CSME) located in the United Arab Emirates. CSME knowingly violated sanctions when it imported building materials from the United States, then reexported them to Iran, according to OFAC.
The penalty reflects the agency’s determination CSME’s apparent violations were egregious and voluntarily self-disclosed, OFAC said in its enforcement release Wednesday.
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The Office of Foreign Assets Control 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.
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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.
2023-09-08T17:55:00Z By Kyle Brasseur
Empire Navigation pleaded guilty to violating the International Emergency Economic Powers Act by carrying nearly 1 million barrels of Iranian oil from the sanctioned Islamic Revolutionary Guard Corps to another country.
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The Federal Trade Commission filed a complaint against LA Fitness’ parent companies, citing difficulties canceling memberships, a month after a court blocked the agency’s click-to-cancel rule.
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CVS’s Caremark division knowingly overcharged Medicare for prescription drugs and must pay nearly $290 million, a Pennsylvania federal judge has ordered.
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The owner of a water machine vending company and a portfolio manager were allegedly behind a Ponzi-like scheme that raised more than $275 million, according to the U.S. Securities and Exchange Commission.
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