News

Iranian national charged with $115m US sanctions evasion scheme

06/02/2020

The US Department of Justice has announced that Iranian national Bahram Karimi has been charged with allegedly participating in a scheme to evade US sanctions against Iran, in which over $115m in payments for a Venezuelan housing complex was funnelled through the US financial system for the benefit of Iranian individuals and entities.

Mr Karimi was responsible for managing the project in Venezuela, and connection with this role, is said to have defrauded US banks by concealing the Iranian recipient of 15 payments through the use of two front companies, in violation of US sanctions.

The offences, as listed, carry a combined maximum sentence of 65 years’ imprisonment on conviction.

(1) conspiring to commit bank fraud,

(2) bank fraud, and

(3) making false statements,

See DOJ press release here. https://www.justice.gov/opa/pr/iranian-national-charged-bank-fraud-and-lying-federal-agents-connection-scheme-use-us