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June 08, 2007 

OFAC Issues June Penalty Report

Today the Treasury Department's Office of Foreign Assets Control (OFAC) issued its monthly report of civil penalties imposed on companies and individuals for allegedly violating the sanctions regimes administered by OFAC.

OFAC's monthly report indicates that the agency settled three cases involving corporations and three cases against individuals. The following is a summary of the settlements:

  • ACME Furniture Industry, Inc. of City of Industry, California remitted $31,336 to settle allegations that it violated the Cuban Assets Control Regulations in 2004 and 2005 by shipping merchandise from China to Cuba. OFAC noted that ACME did not voluntarily disclose this matter.
  • EPMedsystems, Inc. of West Berlin, New Jersey remitted $33,000 to settle allegations that it violated the Iranian Transactions Regulations between October 1999 and March 2004. EPMedsystems voluntarily disclosed this matter to OFAC, but OFAC did not give any further details on the nature of the violations. In November 2006 EPMedSystems paid a $244,000 civil penalty to the Bureau of Industry and Security to settle allegations that it had exported medical devices to Iran without the required OFAC licenses and other alleged violations of the Export Administration Regulations.
  • Hecny Transportation (USA) Inc. d/b/a Hecny Shipping of Jamaica, NY 11434 was assessed a $2,800 civil monetary penalty for its violation of the Weapons of Mass Destruction Trade Control Regulations occurring on January 14, 2004. OFAC alleged that Hecny served as the delivery agent for the importation of insect killer and tubes produced by a designated foreign person. Hecny did not voluntarily disclose this matter to OFAC. OFAC’s Penalty Notice issued to Hecny can be found at the following link:
  • OFAC issued penalties in the amounts of $856, $1,311 and $2,304 against three individuals for purchasing Cuban-origin cigars offered for sale on the Internet. OFAC does not release the names of individuals involved in civil penalty cases and, not surprisingly, none of the cases involved voluntary disclosures.




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