Law360, New York (July 20, 2010, 3:01 PM EDT) -- Oil and gas production equipment manufacturer Agar Corp. Inc. has agreed to pay a $1.14 million criminal penalty to settle allegations that it illegally exported metering equipment to its Venezuelan affiliate knowing that the products would eventually be incorporated into items sent to Sudan, which is subject to certain U.S. trade sanctions.
Under the terms of the settlement, announced Thursday, Agar will fork over $860,000 to the U.S. Department of the Treasury's Office of Foreign Assets Control.
The Houston-based company will also shell out a $760,000...
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