US DOJ seeks forfeiture of $20m relating to Iran sanctions violations

A forfeiture complaint has been filed in a federal court in Alaska alleging that over $20m of assets are subject to forfeiture based on violations of the International Emergency Economic Powers Act (IEEPA) and foreign bank fraud. Press release. The complaint alleges that Kenneth Zong (a US citizen) used fraudulent transactions to convert approximately $1bn of Iranian-owned funds held in …

IranIran United StatesUnited States United Arab EmiratesUnited Arab Emirates South KoreaSouth Korea

About Michael O'Kane

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Michael is Senior Partner at Peters & Peters LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters & Peters LLP...

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