By Maya Lester KC & Michael O’Kane

OFAC agrees $2.7m settlement with General Electric for alleged Cuba sanctions violations

The General Electric Company (GE) has, on behalf of its 3 subsidiaries, Getsco Technical Services Inc., Bentley Nevada, and GE Betz, agreed a sum of $2,718,581 to settle its civil liability for 289 alleged violations of the Cuban Assets Control Regulations from 2010 to 2014. The GE companies accepted payments totalling approximately £8m from the Cobalt Refinery Company for goods …

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About Michael O'Kane

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Michael is Senior Partner at Peters & Peters LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters & Peters LLP...

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