Schlumberger Oilfield Holdings Pleads Guilty and Will Pay More than $232 Million For Violating U.S. Sanctions Concerning Iran and Sudan

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Author: 

Bruce Zagaris

Date Published: 

Thursday, April 2, 2015

Volume: 

31

Issue: 

4

Subject Areas: 

Administration of Justice
Compliance
Customs Enforcement
Economic Crimes
Economic Sanctions
Financial Crimes
Foreign Corrupt Practices Act
Investigation
Sanctions
Settlement
Training

Geographic Identifier: 

Iran
Sudan
United States

Abstract: 

On March 25, 2015, the U.S. Department of Justice announced that Schlumberger Oilfield Holdings Ltd. (SOHL), a wholly-owned subsidiary of Schlumberger Ltd., has agreed to enter a guilty plea and to pay a $232,708,356 penalty to the United States for conspiring to violate the International Emergency Economic Powers Act (IEEPA) by willfully facilitating illegal transactions and engaging in trade with Iran and Sudan.