Regulatory Alerts2026-02-12 | 20260212Settlement Agreement between the U.S. Department of the Treasury's Office of Foreign Assets Control and IMG Academy, LLC
The U.S. Department of the Treasury's Office of Foreign Assets Control announced a $1,720,000 settlement with IMG Academy, LLC for 89 apparent violations of counternarcotics sanctions. Between 2019 and 2025, the entity processed tuition payments for two Specially Designated Nationals linked to a Mexican drug cartel. The penalty reflects OFAC's determination that the conduct was non-egregious and not voluntarily disclosed.
Release Date
02/12/2026
Recent Actions Body
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a $1,720,000 settlement with IMG Academy, LLC to settle its potential civil liability for 89 apparent violations of OFAC counternarcotics sanctions. Between 2019 and 2025, IMG Academy dealt in the property or interests in property of two Specially Designated Nationals (SDNs) sanctioned for their ties to a sanctioned Mexico-based drug cartel. Specifically, IMG Academy entered into yearly tuition agreements with the SDNs and received and processed payments pursuant to those agreements. The settlement amount reflects OFAC's determination that IMG Academy's conduct was non-egregious and not voluntarily disclosed. For more information, please visit the following Enforcement Release .