Murad LLC

HQ Country of Company:
USA
Agency:
OFAC
Location of Sentencing:
Washington, D.C.
Date:
Description:

Murad, LLC (the “Company”), a cosmetics company based in El Segundo, California, has agreed to pay $3,334,286 to settle its potential civil liability for an apparent violation of OFAC sanctions on Iran. This apparent violation resulted from the Company’s participation in a conspiracy to engage in the unauthorized export of goods and services from the United States to Iran over an approximately eight-year period. The conspiracy, which ended in 2018, resulted in at least 62 exports of Company products, as well as the export of services to Iran, totaling more than $11 million.

A former senior Company executive (“U.S. Person-1”) has separately agreed to pay $175,000 to settle their potential civil liability for three apparent violations of OFAC’s Iran sanctions arising from their role as a manager at the Company.

Fine:
Total Fine
$3,509,286
Total Forefeiture
$ 0.00
Total Special Assessment
$ 0.00
Grand Total
$3,509,286
Source:
OFAC, "OFAC Settles with Murad, LLC for $3,334,286 and with a Former Senior Executive of Murad, LLC for $175,000 Related to Apparent Violations of the Iranian Transactions and Sanctions Regulations," 5/17/2023
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