Thursday, October 1, 2020



The US District Court in New York has denied the Motion to Dismiss filed by Turkey's state-owned  Turkiye Halk Bankasi AS a/k/a Halkbank, in a case alleging that the bank participated in million of dollars of hidden payments to Iran of sanctioned oil and gas proceeds, while lying to Treasury Department officials to conceal the scheme.

The Court held:

(1) Halkbank is not immune from prosecution under the Foreign Sovereign Immunities Act.

(2) The Presumption against Extraterritoriality does not bar the charges in the Indictment.

(3) The Court has Personal Jurisdiction over Halkbank.

(4) The Indictment alleges a Conspiracy to Defraud the United States in Count One.

(5) The Indictment alleges Bank Fraud in Count Three.

(6) The Indictment alleges Conspiracy to Comit Bank Fraud in Count Four.

(7) Halkbank's Contention that Count Six is Multiplicitous is Denied.

The bank must now respond on the merits by filing an Answer.

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