A magnetics company operating in Louisville will pay about $1.3 million to the federal government to resolve claims that it transferred sensitive military-related information to a Chinese firm without proper authorization and committed visa fraud.
Quadrant Magnetics will also pay an additional $1 million in fines tied to the allegations and a separate visa fraud charge, bringing the total to approximately $2.3 million.
The company will remain under federal supervision for two years. It must establish a compliance program to prevent violations of U.S. export laws and destroy any confidential information it holds in China…