Epsilon Settles Alleged Iran Sanctions Violations For $1.5M

Reporting "Asre Khodro",Epsilon Electronics Inc. will pay $1.5 million to resolve claims that the car accessory seller violated U.S. sanctions on Iran by selling equipment to a company known to distribute most of its products to the Middle Eastern country, the U.S. Treasury Department said Thursday.

The Montebello, California-based car accessory company has agreed to a deal to end allegations by Treasury’s Office of Foreign Assets Control that Epsilon flouted the Iranian Transactions and Sanctions Regulations by selling audio and video equipment to Dubai-based Asra International LLC.