Skip to content

California company settles with OFAC for $140,400

Irvine, CA
01/20/2016
Fine Amount: 
$140,400
Penalty Type: 
Issued by: 

WATG Holdings, Inc. (WATG), of Irvine, California, and its subsidiary, Wimberly Allison Tong and Goo (UK), Limited (WATG-UK), have agreed to pay $140,400 to settle potential civil liability for apparent violations of the Cuban Assets Control Regulations, according to an announcement by Treasury's Office of Foreign Assets Control (OFAC). The apparent violations occurred when WATG-UK dealt in property in which Cuba or its nationals had an interest by entering into a contract to perform architectural and design work for a hotel project in Cuba, for which it received three payments from a Qatari company, from on or about October 13, 2009 to on or about May 20, 2010, totaling $284,515. WATG further provided the Qatari company a $72,199 write-off of the contract’s original value of $356,714.

Penalties View All

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Penalties