New Jersey Company Agrees to Fine for Iranian Laser Shipment

February 22, 2012

Author: 

Jefferey Benzing

Publication: 

Just Anti-Corruption

PRC Laser Corporation, a New Jersey-based company, agreed to pay a $42,000 fine to settle charges that it illegally shipped an industrial laser to Iran, via Dubai, in January 2010. The laser was purchased by Impex Intercontinental Trading LLC (Impex), a company with offices in Dubai and Tehran, which made payment by wire transfer through Tehrani Exchange in Iran. Impex described itself as a “special agent” for Islamic Republic of Iran Shipping Lines (IRISL), an entity listed on the U.S. Specially Designated Nationals List.