Sanctions: civil penalty for OFAC breaches 20101116
Pinnacle Aircraft Parts, Inc. settles reporting, procedures and penalties regulations allegations:
Pinnacle Aircraft Parts, Inc. (“Pinnacle”), Miami, FL, a U.S. corporation, has paid USD225,000 to settle allegations of a breach of OFAC’s Reporting, Procedures and Penalties Regulations, 31 C.F.R. part 501 (the “RPPR”), occurring in November 2007.
OFAC alleged that Pinnacle failed to provide documents responsive to an administrative subpoena issued by OFAC as part of its investigation of Pinnacle’s February 2004 sale and delivery of a jet engine, with a value in excess of USD1 million. The engine appears to have been destined for Iran.
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