Recent stories
Additionally, OFAC put on public inspection Interim Final Rule to Extend Recordkeeping Requirements from Five to 10 Years, consistent with the extension of the statute of limitations for violations of certain sanctions administered by OFAC.
OFAC also put on public inspection a Comment Request for Reporting, Procedures and Penalties Regulations and Other Information Collections Maintained by OFAC for comments concerning OFAC's information requirements.
An India- and New Jersey-based man who operated jewelry companies in New York City’s Diamond District admitted today to spearheading a scheme to illegally evade customs duties for more than $13.5 million of jewelry imports into the United States and with illegally processing more than $10.3 million through an unlicensed money transmitting business, U.S. Attorney Philip R. Sellinger announced.
The Securities and Exchange Commission announced that Deere & Company, which does business as John Deere, agreed to pay nearly $10 million to resolve SEC charges that it violated the Foreign Corrupt Practices Act (FCPA) arising out of bribes paid by its wholly owned subsidiary, Wirtgen Thailand.
Thailand employees bribed Thai government officials with the Royal Thai Air Force, the Department of Highways, and the Department of Rural Roads to win multiple government contracts and also bribed employees of a private company to win sales to that company.
An Israeli freight forwarder pleaded guilty to conspiracy to commit export control and smuggling violations for his role in a scheme to illegally ship aircraft parts and avionics from U.S. manufactures and suppliers to Russia, including for the benefit of sanctioned Russian airline companies.
As part of his plea agreement, Gal Haimovich, 49, admitted that his scheme involved deceiving U.S. companies about the true destination of the goods at issue, and that the defendant and others attempted to conceal the scheme by submitting false information in export documents filed with the U.S. government. A sentencing hearing has been set for Nov. 22.
The Commerce Department has announced a new tool for analyzing supply chain resiliance. Introduced at the inaugural Supply Chain Summit in Washington, the SCALE tool represents an effort to build the U.S. Government’s analytical capacity to understand and address supply chain risk.
Officails also used the event to announce a redoubled effort to direct federal funds to favored industries via the Chips and Science Act and the Bipartisan Infrastructure Law.
The Georgia Institute of Technology announced it is shuttering its Shenzhen campus and closing a chapter of educational cooperation in the “China’s Silicon Valley” dating back to 1984.
More news
Comments
No comments on this item Please log in to comment by clicking here