Electronics Co. Pays OFAC $1.6M Over Iran Laptop Sales

Law360, Los Angeles (October 14, 2011, 8:18 PM EDT) -- Electronics dealer Sunrise Technologies and Trading Corp. and its principal owner have agreed to pay $1.6 million to settle Office of Foreign Assets Control charges that they illegally exported hundreds of laptops to Iran, the agency announced Friday.

“The apparent violations relate to Sunrise and its principal owner’s unlicensed exports, between 2007 and 2011, of computer-related goods indirectly from the U.S., through Dubai, United Arab Emirates, to Iran in apparent violation of [the Iranian Transaction Regulations],” the U.S. Department of the Treasury agency said in a...
To view the full article, register now.