After self-reporting that a recently purchased subsidiary had broken U.S. sanctions and export control laws, a Texas-based venture capital fund will receive no penalty from the U.S. Department of Justice (DOJ).

The DOJ announced Monday that it issued the declination to White Deer Management in December 2024 for “uncovering a hidden history of sanctions violations” by an acquisition target, Unicat Technologies, as well as Unicat’s founder and former CEO, Mani Erfan.

Learn More
Already a member? Sign in to an existing account.

Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass. Email: aaron.nicodemus@complianceweek.com LinkedIn:...