The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a $1,092,000 settlement with an individual ("U.S. Person-1") to settle their civil liability for 122 apparent violations of OFAC sanctions against Russia. Between April 2018 and June 2022, U.S. Person-1 served as the fiduciary of the U.S.-based family trust of a sanctioned Russian oligarch. In that capacity, U.S. Person-1 dealt in the blocked property of, and provided prohibited services to, the oligarch. OFAC determined that U.S. Person-1's conduct was non-egregious and not voluntarily self-disclosed. The settlement amount also reflects U.S. Person-1's substantial cooperation with OFAC's investigation.
For more information, please visit the following Enforcement Release.