Iranian Company Fined in Connection with Dual-Use Conspiracy
U.S. District Court Judge Yvette Kane sentenced Iranian company Falcon Instrumentation and Machinery FZE, formerly known as FIMCO, to pay a $100,000 criminal fine for conspiracy to evade export licensing requirements, after an alleged attempt to smuggle into Iran a…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
large lathe used in steel manufacturing, the U.S. Attorney’s Office for the Middle District of Pennsylvania and the Commerce Department’s Office of Export Enforcement said on Jan. 6 (here). As part of its plea deal, Falcon also agreed under a settlement with BIS to pay an $837,500 civil penalty to Commerce. The company already paid $587,500 out of pocket, and the remaining $250,000 portion of the penalty—suspended over two years—will be waived if Falcon complies with the terms of the plea agreement, any criminal sentence, and satisfies “certain additional conditions,” the announcement says. The company will also be subject to a two-year suspended denial of export privileges.