Iranian CEO sentenced for conspiracy to violate US sanctions - No1 News Directory

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Saturday, October 17, 2020

Iranian CEO sentenced for conspiracy to violate US sanctions

Prosecutors say Shahidian lied to U.S. suppliers, illegally transferred funds from Iran, and used fraudulent passports and other documents, all to circumvent U.S. sanctions and enable others to follow suit.

"In Iran, based on his illegal business, Mr. Shahidian had been a high-profile executive and a millionaire. He is now a convicted felon who has lost everything," U.S. Attorney Erica McDonald said in a statement.

Court documents show that Shahidian was founder and former CEO of Payment24, an internet-based financial services company with about 40 employees and offices in Tehran, Shiraz and Isfahan, Iran.

Prosecutors alleged that the primary business of Payment24 was helping Iranian citizens conduct prohibited financial transactions with businesses based in the United States, including the unlawful purchase and exportation of computer software, software licenses and servers from U.S. companies.

Shahidian admitted to opening hundreds of PayPal accounts on behalf of his Payment24 customers who resided in Iran and to unlawfully bringing millions of U.S. dollars into the economy of Iran.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

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