Ericsson’s Panama Unit To Pay $1.8M Fine Over Cuba Exports

Law360, New York (May 25, 2012, 5:32 PM EDT) -- Swedish telecommunication giant Ericsson’s Panamanian subsidiary has agreed to pay a $1.75 million fine to resolve claims it flouted the U.S.' long-standing embargo on Cuba through a three-year scheme shipping equipment from the island nation to and from the U.S., the Commerce Department said Friday.

Ericsson de Panama S.A. racked up more than 200 violations of Export Administration Regulations through the alleged scheme from 2004 to 2007, through which it shipped equipment to the U.S. from Cuba through Panama for repairs and replacements, and then back...
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