10 Iranian nationals charged with evading US sanctions
A federal criminal complaint has been unsealed in the US District Court of Los Angeles, charging 10 Iranian nationals with X1 count of conspiracy to violate
- The Iranian Transactions and Sanctions Regulations,
- The Iranian Financial Sanctions Regulations and
- The International Emergency Economic Powers Act.
The defendants are alleged:
- To have participated in a scheme to evade US sanctions on Iran;
- To have disguised over $300 million worth of transactions on behalf of the Iranian government over approximately 20 years.
- To have made false representations to financial institutions and used over 70 front companies in the US, Canada, Hong Kong and the UAE to facilitate the transactions.
The scheme is also said to include:
- The purchase of 2 $25 million oil tankers.
- A forfeiture complaint has been filed seeking a money laundering penalty of $157,332,367, which is the amount involved in the scheme.
According to reports,
- The defendants are believed to be located outside of the US and have not yet been arrested.
If convicted, the offence carries a maximum sentence of 20 years’ imprisonment.
See US press release.