According to this article in The Times, Lloyd’s TSB expects to pay a £180 million fine, or about $350 million, to the Department of Treasury’s Office of Foreign Assets Control (“OFAC”) for transactions with companies and individuals in embargoed countries.…
The Bureau of Industry and Security (“BIS”) recently released a settlement agreement pursuant to which Aviall Pte Ltd agreed to pay $3600 for violation of BIS’s antiboycott regulations. Aviall Pte Ltd. is a Singapore-based subsidiary of U.S.-based Aviall, Inc., which…
ABOVE: TFC Manufacturing California-based machining facility, TFC Manufacturing, recently agreed to pay $31,500 in fines to settle “deemed export” allegations made by the Bureau of Industry and Security. According to BIS’s charging letter, TFC disclosed “technology for the production of…
This article in the International Herald Tribune explores the prevalence of American brand name products in Iran and Sudan notwithstanding sanctions that prohibit most exports to the two countries. As we’ve noted before, much of these products are re-exported from…
Nelson S. Galgoul, the Brazilian distributor for software company Engineering Dynamics, who sold the company’s software to customers in Iran was sentenced to 13 months in jail, a fine of $100,000 and a forfeiture of $109,291 for violation of the…