07 Apr 2021
U.S. prosecutors said on Tuesday they charged the president of a New York cosmetics company for his alleged involvement in a conspiracy to violate U.S. economic sanctions on Iran.
Michael Rose, president of Forsythe Cosmetics Group LLC, is accused of skirting U.S. sanctions between 2015 and 2018 by arranging for the export from the United States to Iran of more than $350,000 worth of cosmetics, prosecutors said in an indictment.
They said an Iranian-based importer with whom Rose was working then used front companies based outside Iran to send payments to New York and to arrange for the shipment of goods to Iran via the United Arab Emirates.
Danya Perry, a lawyer for Rose, declined to comment on the indictment.
By Mark Hosenball, Dan Grebler and Matthew Lewis, Reuters, 6 April 2021
Read more at Reuters
RiskScreen: Eliminating Financial Crime with Smart Technology
Count this content towards your CPD minutes, by signing up to our CPD WalletFREE CPD Wallet