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Tung Tai Group settled potential civil liability for an alleged violation of the Cuban Assets Control Regulations, 31 C.F.R. part 515, by agreeing to pay $43,875. The alleged violation involved Tung Tai entering into contracts to buy and sell Cuban-origin scrap metal on or about August 8, 2010.
Penalty Amount
$43,875.00
Enforcement Date
February 22, 2013
Rank in Top Penalties
#308
The alleged violation occurred on or about August 8, 2010, when Tung Tai entered into contracts to buy and sell Cuban-origin scrap metal, in apparent violation of the Cuban Assets Control Regulations, 31 C.F.R. part 515.
This matter was not voluntarily disclosed to OFAC and the alleged violation constitutes a non-egregious case. The base penalty amount for the alleged violation was $65,000. The settlement amount of $43,875 reflects OFAC's consideration of the General Factors under OFAC's Economic Sanctions Enforcement Guidelines, 31 C.F.R. part 501, app. A: Tung Tai has no history of prior OFAC violations.
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Archived on June 13, 2026
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