Medical Device Co. Sanctioned For Iran Exports

Law360, New York (February 21, 2013, 6:16 PM EST) -- U.S. trade officials said Thursday that California-based medical device company American Optisurgical Inc. has agreed to pay nearly half a million dollars to settle allegations that it exported unlicensed medical goods to Iran.

The U.S. Treasury Department's Office of Foreign Assets Control said the $404,100 fine would resolve claims that the ophthalmic supply manufacturer either exported or tried to export goods to the heavily sanctioned Islamic Republic of Iran on 36 separate occasions between 2005 and 2010.

"AOI's alleged violations of the [sanctions] resulted from willful...
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