California Company Settles With OFAC Over Alleged Violations of Iran Sanctions
California-based United Medical Instruments entered into a $515,400 civil settlement with the Office of Foreign Assets Control after the company allegedly committed 56 violations of the Iranian Transactions and Sanctions Regulations, OFAC announced (here). Compliance with the terms of its…
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September 2013 settlement agreement with the Bureau of Industry and Security and payment of $15,400 to the Treasury will satisfy the company’s obligation to pay the settlement, OFAC said. From about Dec. 5, 2007, to about April 30, 2009, the firm violated the regulations on at least 56 occasions by selling a total of about $2.5 million worth of medical imaging equipment with “knowledge or reason to know that the goods were intended specifically for supply or re-exportation to buyers located in Iran, and when it facilitated the sales of medical imaging equipment from a company located in the United Arab Emirates to Iran,” OFAC said.