GasTech Engineering Corp. OFAC Settlement: $33K (2006)

OFAC alleged that GasTech willfully exported its engineering and procurement services to the National Iranian Gas Company for the development of a gas processing plant to be constructed in Iran. The alleged violations of the Iranian Transactions Regulations occurred between January 2001 and December 2002.

GasTech agreed to remit $33,000 to settle allegations of violations of the Iranian program as a condition of its Plea Agreement with the United States Attorney, Northern District of Oklahoma. This amount was separate from the $50,000 criminal fine imposed by the U.S. District Court, Northern District of Oklahoma. GasTech did not voluntarily disclose this matter to OFAC.

GasTech pled guilty in May 2006 to conspiracy to violate the Iranian Transactions Regulations and in March 2006 was sentenced to probation and a $50,000 criminal fine by the United States District Court, Northern District of Oklahoma. The investigation was a joint effort of federal law enforcement and prosecuting agencies, including the United States Immigration and Customs Enforcement, the Commerce Department's Office of Export Enforcement, the Counter-Terrorism Section of the United States Department of Justice, and the United States Department of Treasury's Office of Foreign Assets Control.

As a further condition of the Plea Agreement, GasTech agreed to demonstrate that it had implemented a corporate compliance program.

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