Tag: OFAC

Regulatory Watch News

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  Medical Supply Company Owner Sentenced to 14 Years in Prison for $30M Medicare, TRICARE, and CHAMPVA Fraud

  US Department of Justice

  October 9, 2026

    An Oklahoma business owner and chiropractor was sentenced yesterday to 14 years in prison for his role in a years-long scheme that attempted to bilk Medicare, TRICARE, and the Civilian Health and Medical Program of the Department of Veterans Affairs (CHAMPVA) out of over $30 million for orthotics braces, continuous glucose monitors, and other durable medical equipment (DME) that beneficiaries did not want or need.

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  Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and Pegasus Worldwide Logistics; International Criminal Court Designation and General Licenses; Burma-related Designation Removal

  OFAC

  October 9, 2026

    The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a settlement with Pegasus Worldwide Logistics, a freight forwarding firm involved in cross-border shipments. Pegasus has agreed to remit $175,015 to settle its potential civil liability 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 importation of a machine supplied by a designated company. Pegasus also failed to respond fully for six months to an OFAC subpoena. The settlement amount reflects OFAC's determination that Pegasus's conduct was non-egregious and not voluntarily disclosed. For more information, please visit the following Enforcement Release

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  Spain: Company and director found guilty of claiming salary costs twice from national and EU funds

  European Public Prosecutor's Office

  October 9, 2026

  (Luxembourg, 9 October 2026) – A company and its director were found guilty of declaring salary costs already covered by national subsidies as costs under an EU-funded project, following an indictment by the European Public Prosecutor’s Office (EPPO) in Madrid (Spain). The company received EU funding to cover the costs of implementing a project under the Horizon 2020 Programme aimed at repairing returnable plastic packaging. At the same time, the company received financial assistance from the Government of Navarra to promote employment, specifically grants for hiring young people under the age of 30 and to support companies’ international trade.