OFAC’s $4.1 Million Penalty on Berkshire Hathaway Subsidiary: Why it Matters
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced on October 20 that it was imposing a $4.1 million penalty against Omaha, Nebraska-based Berkshire Hathaway Inc., its subsidiary MC International Metalworking Companies B.V. (“IMC”) and IMC’s wholly owned Turkish subsidiary, Iscar Kesici Takim…