The Securities and Exchange Commission is conducting a probe to determine whether powerhouse company Amazon violated the terms of U.S. sanctions on Iran. Amazon publicly disclosed the reality of the investigation this week and agreed to fully cooperate with the federal government.
The company said that between January 2012 and June 2017, it sold and delivered nearly $25,000 worth of merchandise to an Iranian embassy outside of Iran, and another $8,100 to other individuals with ties to the Iranian government,” reported CNN Money, citing a filing with the SEC.
Among the products allegedly sent to the Iranian-tied individuals were "books, jewelry, toys, health and beauty products, electronics, lawn and patio equipment, and musical instruments."
According to Amazon itself, the purchases were made by individuals covered under a sanctions bill passed by Congress in 2012. The Iran Threat Reduction and Syria Human Rights Act demands that companies that do business with Iran disclose transactions to the federal government.
Amazon added that it voluntarily disclosed the purchases to both the Treasury Department's Office of Foreign Assets Control and the Department of Commerce's Bureau of Industry and Security.
The company will not sell any more products to the accounts covered under the sanctions bill, according to the SEC filing. Amazon has also said that it will "cooperate fully" with the investigation and pay any penalties the federal government imposes following a review of the disclosures.