U.S. CUSTOMS PROBE OF SATELLITE MANUFACTURER NETS $20-MILLION FINE
Space System/Loral, a U.S. Satellite manufacturer, has agreed to pay a $20-million fine for allegedly passing licensable technology to China, the U.S. Customs Service said.
The fine marks the largest sum paid by an American company under the Arms Export Control Act, Customs said.
Under terms of an agreement between Loral and the State Department, Loral agreed to pay the fine without admitting or denying the government’s charges.
Customs is charged with preventing the illegal movement of U.S. munitions and technology having sensitive civil and military applications, and to terrorist organizations that pose a threat to the national security of the United States.
The Customs special-agent-in-charge office in Baltimore investigated the case.