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October 27, 2011 

Today's Sanctions, Export Controls and FCPA News and Notes

  • OFAC today added to the SDN List six IRISL front companies in Panama that took ownership of IRISL vessels. The six Panamanian companies are: Galliot Maritime, Mount Everest Maritime, Melodious Maritime, Indus Maritime, Rishi Maritime, and Kaveri Maritime. OFAC Director Szubin says: "IRISL will undoubtedly continue trying to find other jurisdictions willing to host its companies and flag its ships. But IRISL’s days may be numbered. Governments and shipping companies are learning that IRISL’s deception, fraud and dangerous activities on behalf of the Government of Iran pose a risk to all of those exposed to IRISL and are proving to be very costly in the long term." 
  • The State Departments Defense Trade Advisory Group (DTAG) will meet on November 9, 2011 in Washington, DC from 1 p.m. until 4 p.m. ET. Details and registration information can be found here.
  •  The President's Export Council Subcommittee on Export Administration (PECSEA) will meet on November 14, 2011 in Washington, DC at 10 a.m. The meeting agenda and other information on the meeting can be found here.
  • Want to go to Afghanistan? The U.S. Department of Commerce's International Trade Administration is organizing a business development trade mission to Kabul, Afghanistan in February 2012. The targeted sectors include: Construction (including engineering, architecture, transportation and logistics, and infrastructure); mining (including equipment, technology, and services); agribusiness; and information and communications technology. More information on this trade mission can be found here.
  • The former president of Terra Telecommunications Corp. was sentenced to 15 years in prison for his alleged role in a scheme to bribe officials at Haiti Teleco. This is the longest prison sentence imposed under the FCPA. The company's former executive vice president was sentenced to seven years in prison for his alleged involvement. Both are required to forfeit more than $3 million. In a press release Assistant Attorney General Lanny Breuer said: 
 “This sentence – the longest sentence ever imposed in an FCPA case – is a stark reminder to executives that bribing government officials to secure business advantages is a serious crime with serious consequences . . . . A company’s profits should be driven by the quality of its goods and services, and not by its ability and willingness to pay bribes to corrupt officials to get business.  As today’s sentence shows, we will continue to hold accountable individuals and companies who engage in such corruption.”
  • A Georgia man was sentenced yesterday to 46 months in prison, a $10,000 fine and was ordered to forfeit $160,362 in connection with his efforts to allegedly export military components for fighter jets and attack helicopters from the United States to Iran. 
  • OFAC announced today that it had settled an enforcement case with a Florida-based trading company for $7,000 involving an attempted export to Iran of goods valued at $7,168. The transaction was not voluntarily disclosed to OFAC. Further details on the case, including the mitigating factors that OFAC used to determine the penalty amount, can be found here.



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