Turkish businessman pleads not guilty to sanctions charges

Reza Zarrab, a Turkish businessman arrested in the US last month on charges of conspiring to evade US sanctions on Iran, has pleaded not guilty (see previous blog).

According to the indictment against Mr Zarrab and 2 of his co-conspirators, between 2010 and 2015 he engaged in transactions on behalf of the government of Iran and several blocked Iranian entities, laundered the proceeds of those transactions, and defrauded a number of financial institutions by concealing the nature of the transactions. Among the alleged beneficiaries of the conspiracy were Bank Mellat, National Iranian Oil Company, Naftiran Intertrade Company Ltd, and Hong Kong Intertrade Company, all of which are still subject to primary US sanctions.

This entry was posted in Iran, USA by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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