By Juan O. Tamayo
The agency of the U.S. Treasury Department that enforces
sanctions on Cuba says a company in Vancouver, Wash., has agreed to pay
$1.35 million to settle apparent violations from 2006 to 2009.
The Great Western Malting Co. could have been fined nearly $6 million for having handled the back-office functions for a foreign affiliate that sold non-U.S. barley malt to Cuba, according to the Office of Foreign Assets Control (OFAC).
Some of the transactions, from August 2006 to March 2009, involved people in Cuba and a Cuban ship, OFAC added, without identifying the foreign affiliate, the people, or the vessel.
The case was settled for $1.35 million because Great Western has no prior sanctions violations, it “substantially cooperated” with the investigators, and the malt would have been eligible for an OFAC license if shipped from the United States, the agency added.
The Great Western Malting Co. could have been fined nearly $6 million for having handled the back-office functions for a foreign affiliate that sold non-U.S. barley malt to Cuba, according to the Office of Foreign Assets Control (OFAC).
Some of the transactions, from August 2006 to March 2009, involved people in Cuba and a Cuban ship, OFAC added, without identifying the foreign affiliate, the people, or the vessel.
The case was settled for $1.35 million because Great Western has no prior sanctions violations, it “substantially cooperated” with the investigators, and the malt would have been eligible for an OFAC license if shipped from the United States, the agency added.
Read more here: http://www.miamiherald.com/2012/07/12/2893476/washington-company-fined-for.html#storylink=cpy
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