Settlement Agreement between the U.S. Department of the …
WEBApr 19, 2024 · SCG Plastics has agreed to pay $20,000,000 to settle its potential civil liability for 467 apparent violations of OFAC sanctions on Iran. From 2017 to 2018, SCG Plastics caused U.S. financial institutions to process $291 million in wire transfers for sales of Iranian origin polyethylene resin manufactured by a joint venture in Iran.
WEBApr 19, 2024 · SCG Plastics Co., Ltd. (“SCG Plastics”), part of a multinational enterprise headquartered in Bangkok, Thailand that sells plastic resins, has agreed to pay $20,000,000 to settle its potential civil liability for 467 …
U.S. Fines Thai Company SCG Plastics $20 Million Over Alleged …
WEBApr 19, 2024 · Thai company SCG Plastics has agreed to pay about $20 million to settle allegations that it used the U.S. financial system to receive hundreds of millions of dollars for products made in...
OFAC fines SCG Chemicals unit $20M over Iran sanctions violations
WEBApr 22, 2024 · SCG Plastics, which is currently undergoing bankruptcy proceedings in Thailand, allegedly used U.S-based correspondent banks to process 467 transactions worth $291 million related to sales of lranian-origin high-density polyethylene resin (HDPE), according to its settlement agreement released Friday.
U.S. Imposes $20 Million Fine on Thai Company SCG Plastics for …
WEBThe settlement with SCG Plastics underscores the U.S. government’s commitment to enforcing sanctions and combating evasion tactics employed by entities seeking to bypass restrictions on ...
Thai plastics firm will pay $20 million to settle with U.S. over Iran ...
WEBApr 19, 2024 · WASHINGTON (AP) — A Bangkok -based plastics firm has agreed to pay $20 million to settle with the U.S. over 467 “egregious” violations of Iran sanctions, the U.S. Treasury announced on Friday. SCG Plastics Co. used U.S. banks to process $291 million in sales of Iranian high-density polyethylene resin from 2017 to 2018, according to the ...
Thai plastics firm will pay $20 million to settle with U.S. over Iran ...
WEBW ASHINGTON (AP) — A Bangkok-based plastics firm has agreed to pay $20 million to settle with the U.S. over 467 “egregious” violations of Iran sanctions, the U.S. Treasury announced on Friday.
US fines Thailand-based firm $27m for Iran sanctions violations
WEBApr 21, 2024 · Bangkok-headquartered SCG Plastics agreed to pay the fine to settle 467 apparent sanctions violations, the Treasury Department said in a statement on April 19.
Unveiling SCG Plastics' Iran Sanctions Violations: Implications
WEBApr 20, 2024 · The signed settlement agreement between SCG Plastics and the U.S. Treasury's Office of Foreign Assets Control (OFAC) outlines the terms of the $20 million fine imposed on the company.
US fines Thailand-based firm $20 mn for Iran sanctions violations
WEBApr 19, 2024 · Bangkok-headquartered SCG Plastics agreed to pay the fine to settle 467 apparent sanctions violations, the Treasury Department said in statement on Friday.
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