SocGen, CMA, Others Settle US Sanctions Probes

Law360, New York (August 16, 2011, 5:31 PM EDT) -- Societe Generale's New York branch, container shipping giant CMA CGM (America) LLC and others have paid the federal government more than $500,000 for allegedly violating sanctions on Iran, Sudan and Cuba, the U.S. Treasury Department said Tuesday.

Societe Generale, CMA and Massachusetts-based Heritage Turbines Inc. all agreed to pay the fines in order to settle concerns raised by the Office of Foreign Assets Control over their business activities with the three countries between 2004 and 2008. The agency also fined shipping logistics provider Norton Lilly International...
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