OFAC Settles with Private Equity Firm –Reviewing Economic Sanctions Guidelines
The U.S. Treasury’s Office of Foreign Asset Control (“OFAC”) recently settled an economic sanctions violation with a Chicago-based private equity firm; the PE firm agreed to pay $11,485,352 to OFAC to settle its potential civil liability for apparent multiple violations of the Ukraine/Russia-related sanctions. Background.On or about September 28, 2017, prior to OFAC’s of Russian […]
