OFAC designates four individuals pursuant to the Global Magnitsky Act

The Office of Foreign Assets Control of the US Department of the Treasury has designated four individuals for their involvement in corruption in South Africa, pursuant to the Global Magnitsky Human Rights Accountability Act and Executive Order 13818.  To-date, OFAC has designated 118 entities and individuals pursuant to Executive Order 13818.

According to OFAC, the designated persons – all with familial or business relations to the Gupta family – used their political connections to carry out corruption schemes, including paying South African government officials to cooperate with Gupta family business endeavors and to award government contracts for the extraction of natural resources, misappropriating state assets, and providing support to entities that have engaged in corrupt conduct.

Following these designations, US property of the designated persons is blocked, and transactions by US persons that involve blocked property are generally prohibited.  In addition, financial support, facilitation or guarantee of a transaction with a foreign person that would be prohibited by Executive Order 13818 if performed by a US person in the US, is prohibited if performed by a US person, whether located inside or outside of the US.

US Dept. of the Treasury press release

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