10 Iranian Nationals Charged With Evading US Sanctions in 20-Year Scheme
Ten Iranian nationals are charged with running a 20-year scheme to evade U.S. sanctions on Iran by disguising more than $300 million worth of transactions, the Department of Justice said in a March 19 news release. The Iranian citizens allegedly made the purchases, including two $25 million oil tankers, on Iran's behalf via front companies in Los Angeles, Canada, Hong Kong and the United Arab Emirates, DOJ said. The U.S. District Court of Los Angeles case, filed in October 2020, was unsealed on March 19. A separate forfeiture complaint was filed the same day on the same individuals, seeking a money laundering penalty of $157,332,367. The individuals are accused of violating the Iranian Transactions and Sanctions Regulations, Iranian Financial Sanctions Regulations and the International Emergency Economic Powers Act. They face a maximum of 20 years in federal prison if convicted, although they are believed to be located outside the U.S.
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
The Iranian nationals allegedly created and used more than 70 front companies, money service businesses and exchange houses, often with the name “Persepolis” or “Rosco,” according to court documents. Several of the accused individuals are alleged to have worked for Persepolis Financial Services, where they operated out of Encino, California. After a Persepolis Financial executive was convicted in 2003, the remaining conspirators fled to Canada and the UAE, where they operated multiple other front companies, the news release said. The Iranians also allegedly used a Hong Kong-based front company called Total Excellence to buy two $25 million oil tankers for Iran.
“In a substantial civil forfeiture action filed by the Department, the defendants stand to lose over $157 million in funds involved in violations of the Iran sanctions,” Assistant Attorney General for National Security John Demers said. “This is only right. Through the use of front companies, money service businesses and exchanges throughout the world, the defendants worked to disguise hundreds of millions of dollars worth of transactions on behalf of a state sponsor of terrorism. Make no mistake, the Department of Justice will continue to deploy all tools necessary to curb the Iranian regime’s ability to use the U.S. financial system to support its malign endeavors.”