Men's Tennis Governing Body Settles Alleged Iranian Sanctions Violations
The governing body of men’s professional tennis circuits agreed to pay more than $48,000 to settle allegations of Iranian Transactions Regulations violations -- caused by multiple salary payments to a tournament official who resides in Iran -- the Office of Foreign Assets Control announced June 12. ATP Tour, Inc., a nonprofit organization based in Ponte Vedra Beach, Florida, agreed to pay $48,600 to settle potential civil liability, OFAC said. The agency alleges that between May 8, 2007 and July 15, 2010, ATP approved, facilitated and in some instances made 18 salary payments to an individual who is ordinarily a resident of Iran. The payments were for “services rendered and expenses incurred in connection with ATP tournaments the individual officiated,” OFAC said.
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ATP did not voluntarily self-disclose the conduct, OFAC said, and eight of the 18 payments were even made after OFAC sent a warning letter to the company, in August of 2008. ATP did cooperate with the agency’s investigation, however, and its transactions may have been licensable under then-existing policies, OFAC said. ATP has also implemented an OFAC compliance plan.