China’s telecom giant Huawei charged with racketeering conspiracy and conspiracy to steal U.S. trade secrets

Huawei, China’s giant and the world’s largest telecom company has been indicted on charges of racketeering conspiracy and conspiracy to steal U.S. trade secrets. In addition, charges have also been filed showing Huawei’s Business in North Korea and Assistance to the Government of Iran in Performing Domestic SurveillanceAs revealed by the government’s independent investigation and […]

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Cryptocurrency company owner targeting docs with proprietary alogorithm said to get extraordinary profits charged by SEC with fraud

The Securities and Exchange Commission  filed charges against an Ohio-based businessman who allegedly orchestrated a digital asset scheme that defrauded approximately 150 investors, including many physicians. The SEC alleges that Michael W. Ackerman, along with two business partners, raised at least $33 million by claiming to investors that he had developed a proprietary algorithm that […]

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Canadian Securities Regulators crack down on exchange practices relating to crytocurrency assets

The Canadian Securities Administrators (CSA) have stated that merely providing users with a contractual right or claim to a crypto asset could subject the exchange to sanctions. The CSA stated that transactions without immediate delivery constitute derivatives sales. Even where the custodied asset is commonly considered as a commodity such as Bitcoin, it could be […]

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Cloudfare Inc, cloud based cybersecurity services reports in may have violated U.S. economic sanctions against designated terrorists

Cloudflare Inc., cloud-based networking and cybersecurity services, expected to go public next week, may have violated U.S. economic and trade sanctions regulations as its products may have been used by entities designated by the U.S. as terrorists and narcotics traffickers. Cloudflare voluntarily disclosed potential economic and trade sanctions violations to the Treasury Department, the company […]

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Turkish businessman sentenced to prison here for 27 months for violations of U.S. sanctions for exporting marine equipment from US to Iran

Resit Tavan, a Turkish Businessman and owner of the Istanbul-based Turkish business Ramor Dis Ticaret Ltd. (also known as the “Ramor Group”) was sentenced on Thursday, Aug. 29, 2019, in Federal District Court in Milwaukee, Wisconsin, to 27 months imprisonment in connection with his conviction for conspiracy to violate U.S. sanctions by exporting specialized marine […]

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US Treasury targets secret procurement networks supporting Iran’s missile proliferation programs involving U.S. technology and components

The U.S. Department of the Treasury Office of Foreign Assets Control (OFAC) targeted two Iranian regime-linked networks for engaging in covert procurement activities benefitting multiple Iranian military organizations. One network, led by Hamed Dehghan, has used a confidential Hong Kong-based front company to evade U.S. and international sanctions and facilitate tens of millions of dollars’ […]

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Treasury Department fines U.S. truck maker PACCAR $1.7 million for 63 violations of Iranian transactions and sanctions violations

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC)has fined a U.S. truck maker PACCAR $1.7 million for 63 alleged violations of the Iranian Transactions and Sanctions Regulations. The settlement resolves potential civil liability for actions taken by a wholly-owned subsidiary of the company that allegedly sold or supplied trucks with a total transactional value […]

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Iranian citizen arrested in Australia pleads guilty to illegally export controlled technology from U.S. to Iran

Conspiracy to  illegally export controlled technology from the United States to Iran Iranian citizen Negar Ghodskani, 40, has pleaded guilty to conspiring to illegally export controlled technology from the United States to Iran. Ghodskani She had been indicted in and arrested in Australia in 2017. According to her guilty plea,  Ghodskani was a Tehran-based employee […]

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PACCAR long haul truck maker pays $1.7 million to settle US charges of evading sanctions against Iran

Long-haul truck manufacturer PACCAR Inc. will pay more than $1.7 million to settle allegations the company may have evaded sanctions against Iran. PACCAR’s Netherlands-based subsidiary, DAF Trucks N.V., allegedly sold or supplied 63 trucks worth about $5.4 million to European customers that “it knew or had reason to know were ultimately intended for buyers in […]

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European Union nations setting up new economic system to allow trade with Iran and directly evade U.S. Sanctions on Iran

Members of the European Union are setting up an economic system which will allow oil companies and businesses to trade with Iran as a direct way to evade U.S. sanctions on Iran that were recently stiffened. The European countries stated  that they were determined “to protect the freedom of their economic operators to pursue legitimate […]

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