Court Upholds Conviction for CEO Who Violated IEEPA
A U.S. court upheld a conviction for Global Metallurgy CEO Erdal Kuyumcu, affirming he violated the International Emergency Economic Powers Act by exporting specialty metals to Iran (see 1606150015), according to court records filed March 17. Kuyumcu, who was hired…
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by a Turkish company to source the U.S.-origin metals, was “fully aware” that the exports would be shipped to a company in Iran, the court said. The court also said Kuyumcu, who originally pleaded guilty, “has failed to show that there is a reasonable probability that he would not have pleaded guilty,” which was necessary under the appeal.