United States: Turkish-Iranian Gold Dealer Must Face Laundering, Sanctions Case
18 Oct 2016

A Turkish-Iranian gold trader must stand trial for laundering hundreds of millions of dollars and violating U.S. sanctions on Iran, a New York judge said in rejecting a bid to dismiss the case as “unprecedented.”

Reza Zarrab, who allegedly owns a multi-billion dollar network of companies in Turkey and the United Arab Emirates, argued that U.S. prosecutors had “manufactured” the case as part of a “dangerous extension” of American law. He said he’s the first foreign national accused of violating U.S. banking sanctions against Iran in transactions that were otherwise lawful for him as a Turkish citizen, a claim prosecutors didn’t deny.

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