Congress passed a law called the Anti-Money Laundering Whistleblower Improvement Act which rewards a whistleblower for disclosure of original information resulting in the collection of sanctions above one million dollars for a violations of;
*The International Emergency Economic Powers act
*Sections 5 and 12 of Trading with the Enemy Act or
*The Foreign Narcotics Kigpin Designation Act.
A whistleblower who reveals sanctions evasions can report it through counsel and receive an award of 10% to 30% of the collected money sanctions. One company recently paid over One Hundred Million dollars for violations of the Iranian Transactions and Sanctions regulations. In March of this year, Wells Fargo agreed to remit $30 Million to settle liability for 124 apparent violations of three sanctions programs. In another recent case, the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) announced it issued a Notification of Blocked Property to Heritage Trust of Delaware for over One Billion Dollars.
Jeffrey Newman is a whistleblower lawyer that is handling several claims involving sanctions violations. He also represents several persons living outside the United States who have filed claims for sanctions violations or for securities violations before The Securities & Exchange Commission (SEC). He can be reached at Jeff@JeffNewmanLaw.com or at 617-823-3217 . The website of his firm is www.JeffNewmanLaw.com.
