Dutch Company Settles Sanctions Matter

On June 5th, the Treasury Department announced a settlement with Fokker Services B.V., (“FSBV”) The Netherlands, of the company’s potential $51 million civil liability in connection with alleged violations of U.S. sanctions on Iran and Sudan. As part of the settlement, FSBV will satisfy its liability with the payment of a $10.5 million civil monetary penalty to the Office of Foreign Assets Control and the Department of Commerce’s Bureau of Industry and Security, a forfeiture of an additional $10.5 million pursuant to a deferred prosecution agreement reached with the Department of Justice, and the acceptance of responsibility for its egregious conduct involving over 1,150 alleged violations of U.S. sanctions. Treasury Department Press Release.