By Maya Lester KC & Michael O’Kane

OFAC settlement with former online trading platform operator

On Monday (1 May 2023), OFAC announced that Poloniex, LLC, which previously operated an online trading and settlement platform known as Poloniex Inc., has agreed to pay $7,591,630 to settle its potential civil liability for nearly 66,000 apparent violations of US sanctions on Crimea, Cuba, Iran, Sudan and Syria. Enforcement Release. The allegation is that, between January 2014 and November …

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About Michael O'Kane

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

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