February 10, 2016
Publication:
Export Practitioner
Related Country:
- United Arab Emirates
Falcon Instrumentation and Machinery FZE, the Iranian partner in a conspiracy to export machinery from the United States to Iran without a license, was ordered to pay a $100,000 criminal fine in U.S. District Court on January 6. The company, formerly known as FIMCO, had pleaded guilty and also agreed to pay the Bureau of Industry and Security a civil penalty of $837,500 in July 2015. The conspiracy involved the export of bar peeling machinery worth $895,544 to Iran via transshipment through the United Arab Emirates. The Pennsylvania-based partner in the scheme, Hetran Inc., and its CEO, Helmut Oertmann, were previously sentenced to 12 months' probation in December 2014.
