Sunday, January 9, 2022



Credit: Inner City Press

The Second Circuit Court of Appeals has denied, without opinion, the petition of Turkey's government-owned Halkbank (Turkiye Halk Bankasi) for rehearing of its recent decision allowing the criminal case pending in SDNY to move forward. The bank's counsel had  moved for a rehearing, or in the alternative, en banc consideration of its Sovereign Immunity defence. the 2nd Circuit held the case fell within an exception to the rule barring suits against foreign states.

The bank was seeking the dismissal of a pending case charging money laundering, IEEPA violations, bank fraud, and conspiracy counts, due to its ownership by the Government of Turkey. The Second Circuit decision has not, as of this writing, (9 January) been the subject of a Petition for a Writ of Certiorari to the United States Supreme Court, but it may still be filed before the deadline, being that it is a case many observers believe to be of great public importance, as it deal with evasion of US sanctions against Iran.

A check of the District Court docket today failed to reveal any post-appellate decision movement on the part of the US Attorney's office in New York; they may be waiting to see if a SCOTUS petition will be filed timely.  Considering that the primary defendant, REZA ZARRAB a/k/a Risa Sarraf, is a Cooperating individual, and he was the primary contact at the bank, the Government most likely has a strong case to bring to trial.

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