"This action is a clear warning that anyone in supervisory or managerial positions who directs staff to provide services, falsify records, commit fraud, or obstruct an investigation into sanctions violations exposes themselves to serious personal risk," the Treasury said in a press release.
Employees were threatened with termination if they refused to travel to Iran, and when returning were directed to list the trips as vacation travel, the release added.
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As a sanctions violator, Kayakiran is banned from doing business in the United States and blocked from using US financial institutions to process payments, the release said. In addition, Treasury fined the parent, Kollmorgen Corporation in the State of Virginia, $13,381 to settle charges.
Kollmorgen discovered the sanctions violations in an internal probe triggered by company whistle-blower and cooperated with Treasury to settle the case, according to the release.