Ferrari Legal, P.C. Archives

OFAC Kingpin Convicted for Drug Trafficking by a D.C. Jury

<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/ofac-kingpin-convicted-for-drug-trafficking-by-a-d-c-jury/"></div>Last week Aurelio Cano Flores was convicted by a jury in Washington, D.C. for his involvement in the importation into the United States of over five (5) kilograms of cocaine and over 1,000 kilograms of marijuana. Cano Flores, a high ranking member of Mexico’s Gulf Cartel, is also a designated Foreign Narcotics Trafficking Kingpin (“Kingpin”) […]<!-- AddThis Advanced Settings below via filter on get_the_

Criminal Investments: The New Trend in IEEPA Criminal Cases

<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/criminal-investments-the-new-trend-in-ieepa-criminal-cases/"></div>There is a terrifying trend in the world of criminal prosecutions for sanctions related offenses these days. More and more prosecutors are bringing or threatening to bring criminal charges for making prohibited financial investments in Iran. I have seen this in practice myself, however, there is a recent case out of Tennessee which serves as […]<!-- AddThis Advanced Settings below via filter on get_the_

OFAC and State Place Four on SDN List, One May

<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/ofac-and-state-designate-four-to-sdn-list-one-may-already-be-dead/"></div>On Tuesday, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) added three (3) individuals and one (1) entity to the list of Specially Designated Nationals and Blocked Persons (SDN List) pursuant to Executive Order 13224. OFAC found one these parties, 28 year old, Mullah Ahmed Shah Noorzai (Ahmed Shah) to […]&

Court Denies Suppression of IEEPA Defendant’s Statements Related to Medical

<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/court-denies-suppression-of-ieepa-defendants-statements-related-to-medical-exports-to-iran/"></div>The United States District Court of the Southern District of California has denied the motion of a criminal defendant, Mohammad Reza Nazemzadeh, to suppress statements made by him in a variety of communications with other individuals and with law enforcement. Nazemzadeh was indicted for seeking to export medical devices to Iran. Nazemzadeh is a post […]<!-- AddThis Advanced Settings below via filter on get_the_

OFAC Opens the Door for Funds Transferring Between Burma and

<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/ofac-opens-the-door-for-funds-transferring-between-burma-and-the-u-s/"></div>On Friday, the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued a general license authorizing U.S. persons to engage in transactions with four (4) banks in Burma. Those banks include Asia Green Development Bank, Ayeyarwady Bank, Myanma Economic Bank, and Myanma Investment and Commercial Bank. The general license allows U.S. […]<!-- AddThis Advanced Settings below via filter on

Are Bank Compliance Officers Rendering OFAC Licensing Useless?

<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/are-bank-compliance-officers-rendering-ofac-licensing-useless/"></div>I have had some recent clients who we procured licenses from the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) for come back and say that despite their licenses, no banks were willing to transfer the funds. There are also numerous reports of banks refusing to process payments for exports of […]<!-- AddThis Advanced Settings below via filter on get_

No OFAC License Needed for Payment of TRIA Judgment

<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/no-ofac-license-needed-for-payment-of-tria-judgment/"></div>This past week the United States District Court for the Southern District of New York ordered the payment of $359,689.75 to plaintiffs in the matter of The Estate of Michael Heiser, et. al v. Bank of Tokyo Mitsubishi UFJ, New York Branch (“Bank of Tokyo”). The matter is one brought under the Terrorism Risk Insurance […]<!-- AddThis Advanced Settings below via filter on get_the_excerpt

OFAC’s Iran TRA Designations: The Net Widens

<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/ofacs-iran-tra-designations-the-net-widens/"></div>I’m still playing catch up on the flurry of activity which came out of the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) last week. In addition to the Frequently Asked Questions on Section 504 of the Iranian Threat Reduction and Syria Human Rights Act of 2012 (Iran-TRA), and OFAC’s guidance […]<!-- AddThis Advanced Settings below via filter on get_

OFAC Tells Us What We Already Know….Will It Make a

<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/ofac-tells-us-what-we-already-know-will-it-make-a-difference/"></div>In a definite sign that complaints regarding U.S. sanctions blocking the flow of medicine to Iran are beginning to pick up steam in Washington, the main agency tasked with administering U.S. economic sanctions, the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), has issued a six (6) page document providing guidance […]<!-- AddThis Advanced Settings below via filter on

The Domino Theory: Bank Saderat To Come Off of the

<div class="at-above-post-cat-page addthis_tool" data-url="https://sanctionlaw.com/the-domino-theory-bank-saderat-to-come-off-of-the-eu-sanctions-list/"></div>There is a lot of stuff going on in the world of sanctions today. First, the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued guidance both on the impact of Section 504 of the Iran Threat Reduction and Syria Human Rights Act of 2012 (“TRA”) as well as on the […]<!-- AddThis Advanced Settings below via filter on get_the_excerpt

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