Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: Zhongxing Telecommunications Equipment Corporation and ZTE Kangxun Telecommunications Ltd.
Current Parent Company: ZTE
Penalty: $661,000,000
Year: 2017
Date: March 7, 2017
Offense Group: competition-related offenses
Primary Offense: export control violation
Mega-Scandal: Sanctions Violations
Violation Description: China's Zhongxing Telecommunications Equipment Corporation and ZTE Kangxun Telecommunications Ltd., known collectively as ZTE, agreed to a combined civil and criminal penalty of $1.19 billion after being accused of illegally shipping telecommunications equipment to Iran and North Korea in violation of the Export Administration Regulations and the Iranian Transactions and Sanctions Regulations. As part of the settlement, ZTE agreed to pay a penalty of $661 million to the Bureau of Industry Security, with $300 million suspended during a seven-year probationary period to deter future violations.
Level of Government: federal
Action Type: agency action
Agency: Bureau of Industry and Security
Civil or Criminal Case: civil
HQ Country of Current Parent: China
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: telecommunications
Specific Industry of Current Parent: telecommunications
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.