ZTE, a Chinese tech company, has pled guilty to violating US-Iran sanctions and has agreed to pay a $892,360,064 fine. If it ends up violating any terms of the agreement, it will be forced to pay another $300 million.
The company was found to have shipped technology from the US to Iran in violation of sanctions. It also repeatedly lied to investigators from the US government when questioned about its activities.
In fact, while the investigation was ongoing, ZTE resumed its business with Iran and shipped millions of dollars' worth of U.S. items there.- Department of Justice
Shipments were taking place to Iran for six years.
ZTE has apologized for its actions and brought notice to its firing of multiple executives last year and its creation of a compliance committee.
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