A Texas-based company that develops 3D animation hardware and software has agreed to pay $189,483 to settle allegations it knowingly violated U.S. sanctions against Iran.
NewTek made 49 separate sales of its products worth more than $500,000 from 2013 to 2018 to customers in Iran through third-party distributors located in France and the United Arab Emirates, according to the U.S. Treasury’s Office of Foreign Assets Control (OFAC). The company was aware, through communications, sales projections, and within written contracts with the distributors, that NewTek products were being sold in Iran, OFAC stated in its web notice.
