On 2 September, the US Commerce Department’s Bureau of Industry and Security (“BIS”) announced that it had imposed a partially suspended civil penalty and a suspended denied-persons order on Streit USA, a South Carolina company, certain of its affiliates, and two of its corporate officers. These penalties were imposed for selling U.S.-origin vehicles, which were retrofitted with ballistic steel and bullet proof glass, without appropriate licences to buyers in the UAE, Venezuela, Afghanistan, Iraq, Nigeria, the Philippines, and Singapore. The goods in question were export-controlled for national security reasons. The individual corporate officers were included in the penalty for causing, aiding and abetting the transfers and re-exports by providing a false statement in support of a pending export licence application. The total penalty imposed was $3,500,000, of which $1.5 million was suspended, and each of the parties was also placed under a suspended three-year denial order. During the three-year suspension period, the corporate parties are required to comply with certain audit requirements
Register now for your free, tailored, daily legal newsfeed service.
Questions? Please contact firstname.lastname@example.orgRegister
US fines South Carolina company for illegal exports of armoured vehicles
Popular articles from this firm
If you would like to learn how Lexology can drive your content marketing strategy forward, please email email@example.com.
Related topic hubs
Assistant General Counsel
“I find the newsfeeds to be extremely helpful and relevant to my practice area and to the issues facing my company. As I am extremely happy with the newsfeed (it is one of the best I receive) I have no suggestions at this time for improvement.”