Varel Holdings, Inc. OFAC Settlement: $110K (2009)

Last updated: July 20, 2026

Varel Holdings, Inc. settled allegations of violations of the Cuban Assets Control Regulations, remitting $110,000.00 to OFAC. Between June 2005 and June 2006, OFAC alleged that a foreign subsidiary of Varel made eleven unlicensed exports of goods in which Cuba or Cuban nationals had an interest. Varel voluntarily disclosed this matter to OFAC.

Penalty Amount

$110,000.00

Enforcement Date

April 30, 2009

Rank in Top Penalties

#237

Case Details

Type:: Entity
Name:: Varel Holdings, Inc.
Country:: 🇺🇸 United States
Industry:: Trading
Address:: Dallas, Texas
Penalty amount:: $110,000.00
Egregious case:: Unknown
Apparent violations:: 11
Voluntary self disclosure:: Yes
Case:: Settlement
Violation period:: June 2005 to June 2006
Program:: Cuban Assets Control Regulations
Enforcement date:: April 30, 2009

Official Source Documents

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Archived on June 13, 2026

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