The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $515,400 settlement with United Medical Instruments, Inc. (“UMI”), a company incorporated in California. UMI agreed to settle its potential civil liability for 56 alleged violations of the Iranian Transactions and Sanctions Regulations, 31 C.F.R. Part 560. The alleged violations occurred between 2007 and 2009 when UMI made sales of medical imaging equipment with knowledge or reason to know that the goods were intended specifically for supply or re-exportation to buyers located in Iran, and when it facilitated the sales of medical imaging equipment from a company located in the United Arab Emirates to Iran. OFAC determined that UMI did not voluntarily self-disclose the apparent violations to OFAC, and that the alleged violations constitute a non-egregious case.
Read more information on the settlement below.