The U.S. Department of the Treasury's Office of Foreign Assets Control Assesses a Civil Monetary Penalty against an Individual

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has assessed a $4,677,552 civil monetary penalty against an individual for violations of OFAC's sanctions against Russia and for related reporting obligations. Between April 2023 and March 2024, this individual willfully dealt in residential real property owned by a blocked individual, including by mortgaging, renovating, and selling the property to an unwitting third party. The penalty amount reflects OFAC's determination that the violations were egregious and were not self-disclosed.

For more information, please visit the following Enforcement Release.