Wednesday, October 16, 2019
Tuesday, October 15, 2019
The Turkish state-owned TURKIYE HALK BANKASI A.S., trading as HALKBANK, has been charged, in a 6-count Indictment, alleging the bank's involvement in a $20bn Iran oil sanctions evasion scheme. The operation, known as Oil-for-Gold, involved the bank's illegal facilitation of the transfer of billions of dollars in illicit profits, benefiting Iran.
Halkbank Deputy GM Mehmet Atilla and the Iranian oil trader, Reza Zarrab, have both been convicted for their roles in the scheme to evade US and UN sanctions on Iran. The allegations also accuse other Halkbank senior staff of participating in the lucrative sanctions evasion scheme.
(1) Money Laundering.
(2) Conspiracy to Commit Money Laundering.
(3) Bank Fraud .
(4) Conspiracy to Commit Bank Fraud.
(5) Conspiracy to Defraud the United States.
(6) Conspiracy to violate the IEEPA.
Readers who wish to review the complete text of the 45-page Superseding Indictment may access it here.
Readers who wanted to see the Florida corporate documents of FRAUD GUARANTEE LLC, the front company that allegedly was used by two Florida businessmen, now under arrest, to move illegal foreign campaign contributions into the hands of American politicians may view it below. The Incorporator, Florida attorney Donald Allison, was a former Assistant United States Attorney during the same period that Rudy Giuliani was an Assistant Attorney General, and the US Attorney in New York.
Monday, October 14, 2019
If you live in one of the countries in the European Union, you most likely have limits on how much cash you can hand over when making large purchases. Malta, which has not had such restrictions, recently announced that it intends to impose a €10,000 limit on cash transactions. This means that luxury automobiles, yachts, art & antiques and previous metals can no longer be bought in all-cash deals.
Apparently, MONEYVAL concerns about money laundering through Malta was recognized by local government officials. Unfortunately, the restriction reportedly only applies to retail and consumer transactions, not the cash deposited in Malta's Individual Investor Program, the country's controversial and dodgy Citizenship by Investment program.