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OFAC issues maximum fine for U.S. VC firm

Silicon Valley-based venture-capital firm GVA Capital will pay nearly $216 million for its part in an alleged scheme to evade sanctions on Russian billionaire Suleiman Kerimov.
One mitigating factor, OFAC said, was that the company wasn’t subject to an agency enforcement action in the five years preceding the Thursday filing. The totality of circumstances, however, warranted the statutory maximum fine, OFAC said.
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