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US declines to prosecute private equity firm after disclosures

( June 16, 2025, 12:01 GMT | Official Statement) -- MLex Summary: The Justice Department and the U.S. Attorney’s Office for the Southern District of Texas announced that they declined the prosecution of private equity firm White Deer Management after the firm discovered and voluntarily self-disclosed criminal violations of US sanctions and export laws committed by a company it acquired, Texas-based Unicat Catalyst Technologies. The Justice Department entered into a non-prosecution agreement with Unicat, and the former chief executive officer and co-founder. Mani Erfan, pleaded guilty to conspiring to violate US sanctions and concealment and international promotional money laundering.Statement follows below. Documents attached....

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