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OFAC: $1.1 Million Penalty on U.S. Citizen for 75 Egregious Iran Sanctions Violations Involving Hotel Project
OFAC: $1.1 Million Penalty on U.S. Citizen for 75 Egregious Iran Sanctions Violations Involving Hotel Project
November 22, 2024/
Office of Foreign Assets Control implemented a $1.1 million penalty on an anonymous US person for 75 violations of Iran sanctions. Between 2019 and 2022, that person executed a plan to purchase, reno, and operate a hotel in Iran. They were fully aware of US sanctions of Iran. OFAC determined that the violations were egregious, and the person did not disclose them.
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