XLI - 3M Settles US Treasury Probe Over Iran-Related Sales | Benzinga
3M Company (NYSE: MMM), the American multinational conglomerate, is on the hook for a substantial settlement following an investigation by the U.S. Treasury Department. The Office of Foreign Assets Control (OFAC) announced a $9.62 million settlement with 3M.
The core of the issue revolved around 3M's alleged sales to an Iranian entity overseen by Iran's law enforcement. This marks another setback for 3M after a recent settlement with the SEC last month.
According to the OFAC, between September 2016 and September ...