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HavanaJournal.com: Cuba Politics

OFAC Civil Penalities Release for Cuba Embargo violations

Posted August 04, 2009 by publisher in Cuba Politics.
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Rob Sequin | Havana Journal

OFAC, an agency within the US Department of Treasury has issued fines to two companies in their recent Civil Penalties Release. OFAC fined one individual $15,000 for violating the Cuba sanctions.

MGE UPS Systems, Inc., now known as American Power Conversion Corporation

MGE was assessed a Penalty for Violating the Cuban Assets Control Regulations in the amount of $10,341.00 for its violation of the Cuban Assets Control Regulations occurring in September 2005. MGE paid the fine for selling electrical regulators ultimately destined for Cuba.

MGE UPS did not voluntarily disclose this matter to OFAC. This matter was resolved according to the prior enforcement guidelines published by OFAC at 68 Fed. Reg. 4422.

First Incentive Travel, Inc. Settles Cuban Assets Control Regulations Allegations

First Incentive Travel, Inc., Kissimmee, FL (“FIT”), has remitted $8,250 to settle allegations of violations of the Cuban Assets Control Regulations occurring on or about October 2006.

OFAC alleged that FIT provided travel-related services in which Cuba or Cuban nationals had an interest by arranging Cuba travel for non-U.S. persons without an OFAC license.

FIT did not voluntarily disclose this matter to OFAC. This matter was resolved according to the prior enforcement guidelines published by OFAC at 68 Fed. Reg. 4422.

Civil Penalties Against Individuals

One individual was assessed a penalty totaling $15,000 for dealing in property in which Cuba has an interest: In December 2006, the individual engaged in financial transactions in which Cuba or a Cuban national has an interest.

The individual did not voluntarily disclose this matter to OFAC. This matter was resolved according to the prior enforcement guidelines published by OFAC at 68 Fed. Reg. 4422.

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