GWC Valve Fined and CEO Sentenced to 13 Months in Jail for Valve Exports to Iran

Posted 6/6/11

A federal judge in Fresno, Calif., imposed a $300,000 fine May 9, 2011, on GWC Valve International Inc., of Bakersfield, Calif., and sent its chief executive officer, David Meador, to jail for 13 …

This item is available in full to subscribers.

Attention subscribers

To continue reading, you will need to either log in to your subscriber account, below, or purchase a new subscription.

If you are a current subscriber, and had an account on our previous site, you already have an account. If you have not yet logged into our new site, click here to reset your password.

Otherwise, click here to view your options for subscribing.

E-edition

Export Practitioner Sept. 2026

View this issue

Browse other issues

Recent stories

BIS Penalties Rise Toward Statutory Maximums Even as Enforcement Volume Falls

A growing share of Bureau of Industry and Security export-control settlements under the Trump administration have approached the maximum penalties allowed by law, according to a Center for Strategic …

Steel-Producing Economies Adopt Milwaukee Framework to Address Excess Capacity

Members of the Global Forum on Steel Excess Capacity adopted a framework for coordinated action on September 30, targeting market-distorting subsidies, trade circumvention and weaknesses in steel …

Busan Extension Signals Possible Further Delay for BIS Affiliates Rule

The reported extension of the U.S.–China Busan trade agreement until January 10, 2027, could prolong the suspension of the Bureau of Industry and Security’s Affiliates Rule. Whether the extension covers that rule, however, remains unconfirmed in the official materials reviewed.

U.S. Eases Syria Defense Trade Restrictions; BIS Country-Group Not Yet

The United States has lifted comprehensive economic sanctions on Syria and is easing defense trade restrictions, but export controls remain uneven across agencies. State’s ITAR amendment does not remove Syria from BIS Country Group E:1 or eliminate Syria-specific EAR licensing requirements. Until Commerce acts, businesses must continue to apply those controls alongside targeted Treasury sanctions.

Graham Act in place as U.S. and EU Adjust Pressure on Russians

The Graham Act creates immediate compliance risks beyond companies that trade directly with Russia by authorizing tariffs on all goods from major buyers of Russian energy, codifying much of the existing U.S. sanctions regime, and increasing secondary-sanctions exposure for foreign financial institutions. Treasury’s additional Iran-related designation of VTB Bank compounds that banking risk, while the EU’s removal of Alisher Usmanov and Mikhail Fridman—and their continued designation under Latvian and Estonian national sanctions—underscores the need for jurisdiction-specific screening.

State Proposes USML Reductions, “Specially Designed” Changes, and New Repair Exemption

The State Department’s Directorate of Defense Trade Controls is scheduled to publish a proposed rule on October 1 that would narrow U.S. Munitions List controls, revise key ITAR definitions, and establish a license exemption for temporary exports of foreign defense articles for servicing and repair.

More news

GWC Valve Fined and CEO Sentenced to 13 Months in Jail for Valve Exports to Iran

Intelligence Specialists’ Role in Export and Embargo …

Chitron, Revisited: Illegal Procurement Schemes Then …

Samsung-Owned Harman Fined $1.4M For Alleged Iran …

GWC Valve Fined and CEO Sentenced to 13 Months in Jail for Valve Exports to Iran

Attention subscribers

Please log in to continue

ADDITIONAL SUBSCRIPTION OPTIONS

Intelligence Specialists’ Role in Export and Embargo …

Chitron, Revisited: Illegal Procurement Schemes Then …

Samsung-Owned Harman Fined $1.4M For Alleged Iran …