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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
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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2023-09-22T18:34:00Z By Jeff Dale
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.
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.
2023-09-08T17:55:00Z 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.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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