OFAC settles with Kollmorgen & designates its Turkish MD for directing the violation

Last week (7 February), OFAC reached a $13,381 settlement with Kollmorgen Corporation to settle potential civil liability on behalf of its Turkish affiliate, Elsim Elektroteknik Sistemler Sanayi ve Ticaret Anonim Sirketi, for 6 apparent violations of the Iranian Transactions and Sanctions Regulations. On 6 occasions between July 2013 and July 2015, Elsim is said to have serviced machines containing Elsim...

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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