Construction Specialties Inc.

HQ Country of Company:
USA
Agency:
Department of Treasury
Location of Sentencing:
Washington D.C.
Date:
Description:

Construction Specialties Inc. (“CS”), a company headquartered in New Jersey that sells specialized building materials, has agreed to pay $660,594 to settle its subsidiary’s potential civil liability for three apparent violations of OFAC sanctions on Iran. The conduct at issue occurred when CS’s wholly controlled United Arab Emirates (UAE) subsidiary, Construction Specialties Middle East L.L.C. (“CSME”), imported building materials from the United States to the UAE and then knowingly reexported them to Iran. In doing so, CSME’s general manager and another senior manager disregarded CS company policy and falsified trade documents

Fine:
Total Fine
$660,594
Total Forefeiture
$ 0.00
Total Special Assessment
$ 0.00
Grand Total
$660,594
Source:
Department of Treasury, "OFAC Settles with Construction Specialties Inc. for $660,594 Related to Apparent Violations of the Iranian Transactions and Sanctions Regulations," 08/16/2023.
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