OFAC Settles with Freight Forwarder Pegasus Worldwide Logistics for $175,015 Over Dealings in Blocked Property

OFAC announced a $175,015 settlement with Pegasus Worldwide Logistics, a freight forwarding firm, for four apparent violations of the Illicit Drug Trafficking Sanctions Regulations and six apparent violations of the Reporting, Procedures and Penalties Regulations. Between September 2023 and February 2024, Pegasus dealt in blocked property by facilitating the import of a machine supplied by a designated company, and it also failed to respond fully to an OFAC subpoena for six months. OFAC treated the conduct as non-egregious and not voluntarily disclosed.