Medical exporter hit with fine for Iran shipment

Regulatory/Trade

Friday, April 27, 2012

The Treasury Department’s Office of Foreign Assets Control (OFAC) said this week that a Colorado-based medical equipment manufacturer will pay $126,000 to settle charges that it knowingly shipped medical devices to Iran through the United Arab Emirates. The company has also been charged with failing to provide documents in response to two subpoenas from the office during its initial investigation. According to the OFAC statement, the matter was not voluntarily disclos...

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