The Department of Justice announced Oct. 18 that a Florida man will forfeit $10 million and has been sentenced to four years in federal prison for conspiracy to violate the International Emergency Economic Powers Act and the Iranian Transaction Regulations.
The man was convicted of conspiring with others to unlawfully export nearly $15 million worth of sophisticated, enterprise-level computer and related equipment from the U.S. to Iran in violation of the U.S. embargo against that country. DOJ notes that the man and his co-conspirators shipped the goods through the United Arab Emirates and employed fake identities, fake end-users and coded language in an effort to conceal their activities.
Source: STR Trade Report
• Tampa Man Guilty of Exporting to Iran, Violating Embargo (TBO.com)
• Iran Sanctions Regulations Revised (STR Trade Report)