Epsilon Electronics, Inc. — $1,500,000 OFAC penalty
OFAC published a $1,500,000 civil penalty against Epsilon Electronics, Inc. on 09/13/2018. It is the #87 largest action in OFAC’s 1,052-entry enforcement chart and #5 of the 7 actions published that year.
What OFAC said
Epsilon Electronics Inc. ("Epsilon"), located in Montebello, California, also doing business as Power Acoustik Electronics, Sound Stream, Kole Audio, and Precision Audio, has agreed to pay $1,500,000 to settle liability arising from OFAC's discovery of alleged violations of the Iranian Transactions and Sanctions Regulations, 31 C.F.R.
Quoted verbatim from OFAC’s enforcement release — read the original.
The record
| Entity, as published by OFAC | Epsilon Electronics, Inc. |
|---|---|
| Penalty / settlement amount | $1,500,000 |
| Date published by OFAC | 09/13/2018 |
| Aggregate penalties, settlements or findings | 1 |
| Rank among all published OFAC actions | #87 of 1,052 |
| Rank within 2018 | #5 of 7 |
| Share of 2018 penalty total | 2.1% |
| Sanctions programs named in the release | Iran |
Primary source
OFAC enforcement release: 20180913_epsilon.pdf. This page adds no facts beyond that document and OFAC’s published penalty chart.
Comparable 2018 actions
- Yantai Jereh Oilfield Services Group Co., Ltd. — $2,774,972
- Ericsson, Inc. and Ericsson AB — $145,893
- Cobham Holdings, Inc. — $87,507
- JPMorgan Chase Bank, N.A. — $5,263,171
- Zoltek Companies, Inc. — $7,772,102
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