Oklahoma Company Pleads Guilty to Violating Iran Embargo
Tulsa, Oklahoma-based GasTech Engineering Corp. (GasTech), a company that engages in the design and fabrication of oil and gas processing plants and systems, pleaded guilty on January 11, 2005 of conspiracy to violate OFAC's Iranian Transactions Regulations. In its Plea Agreement, GasTech admitted that it conspired with its President Parviz Khosrowyar, and other unindicted Co-Conspirators, to provide engineering and procurement services to the Government of Iran's National Iranian Gas Company for the design of the Tabnak Gas Treating Plant in Iran.
GasTech agreed to a forfeiture money judgment representing proceeds traceable to its role in the conspiracy and payment of a regulatory penalty, in addition to any fine imposed by the Court at sentencing. The Plea Agreement calls for GasTech to implement a corporate compliance program that will be monitored by the Bureau of Industry and Security.
Co-Defendant Parviz Khosrowyar, President and Chief Executive Officer of GasTech, remains a fugitive, including the conspiracy charge and the charge for his failure to appear at trial.
|posted by Douglas N. Jacobson| Permalink 
