Iran, UAE Cos. In $30M Export Scheme Reach Plea Deal
By Scott Flaherty
Law360, New York (August 29, 2013, 6:07 PM ET) -- An Iranian company and two subsidiaries have agreed to plead guilty in a case that accused them of flouting a U.S. trade embargo by exporting to Iran more than $30 million worth of American electronics, according to filings in Virginia federal court Tuesday.
Under the plea agreement, Tehran-based Business Machinery World Wide and two of its United Arab Emirates-based subsidiaries — Ariana General Trading LLC and Servex DWC LLC — would pay a total of $150,000 and each company would be subject to five years of...