Work Area: Sanctions

US greenlights auction of Russian oligarch’s $120 million superyacht by Antigua and Barbuda

The 267-foot luxury vessel, which US authorities say belongs to sanctioned Russian billionaire Andrey Guryev, has become a money pit for the island nation due to exorbitant maintenance costs.

22 May 2023

Motor manufacturer to pay $283,000 for violating antiboycott regulation

The settlement is the first major action reached under the Bureau of Industry and Security’s new policy bolstering antiboycott enforcement.

19 May 2023

California cosmetics company to pay $3.3 million for “egregious” US sanctions breaches

OFAC also struck a rare individual settlement with a former senior executive at the Unilever-owned company over their role in the alleged violations of Iranian sanctions.

18 May 2023

DOJ unveils batch of new cases in crackdown on trade theft and illegal exports to adversaries

The enforcement push comes amid reports that sanctioned US technology has continued to flow to Russia despite new sanctions tied to Moscow’s invasion of Ukraine.

16 May 2023

Counsel Watch: SBF adds more Cohen & Gresser firepower to defence team

GIR looks at the new appearances on the docket for FTX founder Sam Bankman-Fried as he seeks to dismiss US charges against him, and the three-firm team advising crypto company Bittrex as it faces allegations of securities laws violations from the SEC.

09 May 2023

Marshall Miller: Companies are “on the front lines” of national security

Two-thirds of the DOJ’s corporate criminal resolutions in the past seven months have implicated questions of national security, the senior DOJ official said.

03 May 2023

FCPA Docket: Stryker discloses bribery investigation

The DOJ and SEC contacted recidivist medical device maker Stryker about possible FCPA violations; a fibre laser manufacturer “believes” the DOJ has concluded its investigation into its export practices; a mining company received information requests from the DOJ but says it is not under investigation.

03 May 2023

Crypto company to pay $7.6 million in OFAC settlement

Poloniex faced scrutiny from OFAC for allowing over 65,000 transactions in violation of US sanctions programmes against Crimea, Cuba, Iran, Syria and Sudan.

02 May 2023

Alvarez & Marsal to support Glencore monitorship

Glencore announced in its annual ethics report that its recently-accepted compliance monitors will be working with the forensic accounting firm.

28 April 2023

Ex-Harvard professor avoids prison after hiding Chinese financing

Charles Lieber was sentenced to pay $50,000 and spend two years under supervised release.

26 April 2023

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