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CUBA POLITICS SECTION - Havana Journal > OFAC
Rob Sequin | Havana Journal
Contained in a release of OFAC’s Civil Penalties today, Philips Electronics of North America has agreed to settle allegations of violations of the Cuban Assets Control Regulations occurring between June 2004 and March 2006 by paying a fine of $128,750.00.
OFAC alleged that an employee of Philips of North America traveled to Cuba without an OFAC license in the course of business of selling medical equipment to Cuba.
Philips voluntarily disclosed this matter to OFAC and it was resolved according to prior enforcement guidelines published by OFAC, 68 Fed.…
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Rob Sequin | Havana Journal
Sol Melia, a publicly traded corporation based in Spain, is a well known hotel operator in Cuba yet they have a business office in Miami, have a business interest in the Paramount Hotel in New York City and have dozens of domain names registered at US based registrar GoDaddy.
This article entices one to ask why a corporation with such a large business interest in Cuba can have a US office and domains at a US based registrar while not having any compliance issues with OFAC.
I was motivated to research Sol Melia’s…
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Rob Sequin | Havana Journal
On May 15th, OFAC hosted the first annual OFAC International Trade Symposium in Washington DC.
I attended as an internet entrepreneur, not as a journalist since the event was not open to the press. OFAC did a fine job of presenting their US governmental responsibilities to the attendees and the event was very well attended. Below is a summary of OFAC presentations as they related to Cuba. There is a link at the end of this article that will take readers to all of the slide presentations from this…
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Rob Sequin | Havana Journal
OFAC Civil Penalties for violating the Cuban Assets Control Regulations
Varel Holdings, Inc. Settles Cuban Assets Control Regulations Allegations:
Varel Holdings, Inc., Dallas, Texas (“Varel”), has remitted $110,000.00 to settle allegations of violations of the Cuban Assets Control Regulations occurring between June 2005 and June 2006. OFAC alleged that, between June 2005 and June 2006, a foreign subsidiary of Varel made eleven unlicensed exports of goods in which Cuba or Cuban nationals had an interest. Varel voluntarily disclosed this matter to OFAC. This matter was resolved according to the prior…
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From OFAC release
The Office of Foreign Assets Control is sponsoring its first-ever International Trade Symposium designed to provide the international trade community with insight and perspective from top officials on compliance, enforcement and licensing issues related to U.S. export controls.
This one-day event provides a unique opportunity to hear from and interact with not only the Office of Foreign Assets Control, but key personnel in the Census Bureau, Customs and Border Patrol, Bureau of Industry and Security, and the State Department’s Office of Defense Trade Controls.
Participants can expect to gain insight…
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We post all OFAC Civil Penalty notices as they are posted by the US Treasury and this one was just released. I pasted in the text below. If you have been following our OFAC articles, you’ll notice something familiar to these penalty notices that something is missing… Cuba. There is usually one business penalty and at least a couple individual penalties for people who bought Cuban cigars over the internet.
This is the first report since I have been watching these reports that there are NO CIVIL PENALTIES FOR CUBA RELATED VIOLATIONS. Very interesting. I…
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Rob Sequin | Havana Journal
ENTITIES – 31 CFR 501.805(d)(1)(i)
Priceline.com, Incorporated Settles Cuban Assets Control Regulations Allegations:
Priceline.com, Incorporated, Norwalk, CT (“Priceline”), has remitted $12,250.00 to settle allegations of violations of the Cuban Assets Control Regulations occurring between September 2004 and November 2007. OFAC alleged that foreign subsidiaries of Priceline provided travel-related services in which Cuba or Cuban nationals had an interest by arranging hotel reservations for Cuban nationals without an OFAC license. Priceline voluntarily disclosed this matter to OFAC.
Center for Cross Cultural Study, Inc. Settles Cuban Embargo Program Allegations:
Center for…
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US Treasury
Minxia Non-Ferrous Metals, Inc. Settles Cuban Assets Control Regulations Allegations: Minxia Non-Ferrous Metals, Inc., Columbia, Maryland 21044, (“Minxia”), remitted $1,198,000.00 to settle allegations of violations of the Cuban Assets Control Regulations occurring between approximately May 2003 and October 2006. OFAC alleged that Minxia acted without an OFAC license or outside the scope of its license by purchasing or otherwise dealing in Cuban metals. Minxia did not voluntarily disclose this matter to OFAC.
Gate Gourmet, Inc. Settles Cuban Assets Control Regulations Allegations: Gate Gourmet, Inc. (“Gate Gourmet”), has agreed to remit $581,901.54 to settle allegations of violations of the…
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Two thirds of OFAC’s Release of Civil Penalties Information report for June 2008 contains violators and fines for violating the Cuban Embargo. One third were for violations of the Iranian Transactions Regulations.
ENTITIES – 31 CFR 501.805(d)(1)(i)
1. Spirit Airlines, Inc. Settles Cuban Assets Control Regulations Allegations:
Spirit Airlines, Inc., Miramar, Florida, has remitted $100,000.00 to settle allegations of violations of the Cuban Assets Control Regulations occurring between approximately September 2004 and March 2007. Spirit voluntarily disclosed to OFAC that it may have acted without an OFAC license or outside the scope of its license by transferring…
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DEPARTMENT OF THE TREASURY OFFICE OF FOREIGN ASSETS CONTROL ENFORCEMENT INFORMATION FOR May 2, 2008
INDIVIDUALS – 31 CFR 501.805(d)(1)(ii)
One individual has agreed to a settlement totaling $5,425.50 for allegedly dealing in property in which Cuba or a Cuban national had an interest: Between November 2004 and May 2006, the individual allegedly purchased Cuban-origin cigars offered for sale on the Internet. The individual did not voluntarily disclose this matter to OFAC.
One individual has agreed to a settlement totaling $1,014 for allegedly dealing in property in which Cuba or a Cuban national had…
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