Acteon Group Ltd.
HQ Country of Company:
United Kingdom
Agency:
OFAC
Location of Sentencing:
Washington D.C.
Date:
Description:
Acteon’s US investor-parent KKR & Co, violated ISTR on three occasions. Acteon subsidiary, Seatronics, rented or sold equipment to customers that used it on vessels in Iranian territorial waters while KKR-affiliated investment funds owned a majority stake in Acteon. KKR’s majority holdings in Acteon conferred U.S. jurisdiction over Acteon and its subsidiaries’ Iran-related activities and allowed OFAC to penalize Acteon and KKR. Seatronics appears to have violated § 560.215 of the ITSR on three occasions when Seatronics Ltd.’s Abu Dhabi, United Arab Emirates (UAE) branch (“Seatronics-AE”) rented or sold equipment to customers who appear to have embarked the equipment on vessels that operated in Iranian territorial waters.
Fine:
Total Fine
$213,866.00
Total Forefeiture
$ 0.00
Total Special Assessment
$ 0.00
Grand Total
$213,866.00
