Indictment of Lebanese Businessman, Tajideen, Points to Bold Methods of Sanctions Enforcement by DoJ and May Trigger Compliance Headaches for Banks

July 14, 2017
By Anna Sayre, Legal Content Writer, SanctionsAlert.com

On March 24, 2017, Kassim Tajideen, an international financier and businessman operating a network of businesses in Lebanon and Africa, was charged by the U.S. Department of Justice (DoJ) with evading sanctions by purposefully concealing his association with certain companies, the profits of which were used in part to support the Shiite militant movement Hezbollah. This terrorist group was also designated by the U.S. Department of State as a Foreign Terrorist Organization in 1997. Tajideen, who was extradited from Morocco to the U.S., pleaded not guilty to all 11 counts. (more…)

US relentless in case involving illegal exports of components founds in bombs in Iraq

September 16, 2016
By Daniel Calloway, SanctionsAlert.com

On April 4, 2016, Lim Yong Nam (also known as Steven Lim), a citizen of Singapore, was extradited from Indonesia to the US to stand trial on charges of taking part in a conspiracy involving the export of 6,000 radio frequency modules, from the US to Iran.

A radio frequency module is equipment used to transmit signals between two devices, and a classic example of a so-called dual-use item, which can be innocent, or can have military applications, such as use in an explosive device. In some cases, dual use items cannot be exported without permission from the Department of Commerce. (more…)

U.S. Court Denies Bail to Dual Turkish-Iranian National Charged with Violating Iran Sanctions Not withstanding Jurisdictional Issues

Date: July 29, 2016
By: Bruce Zagaris*

On June 16, 2016, U.S. District Court Judge Richard M. Berman in Manhattan denied bail for Reza Zarrab, a dual Turks-Iranian national and gold trader, charged with violating Iranian sanctions.1

Decision to Deny Bail

Judge Berman explained that “the Court respectfully denies Mr. Zarrab’s application of bail after finding both that Defendant is a flight risk and that there are no conditions or combination of conditions of release that will reasonably assure the appearance of the Defendant.” (more…)

U.S. Indicts 7 Iranians Working for Islamic Revolutionary Guard Corps-Affiliated Entities for Coordinated Cyber Attacks Against the U.S. Financial Sector

Author: Bruce Zagaris*
Date: May 15, 2016

On March 24, 2016, Attorney General Loretta E. Lynch, Director James B. Comey of the FBI, Assistant Attorney General for National Security John P. Carlin and U.S. Attorney Preet Bharara of the Southern District of New York announced a grand jury in the Southern District of New York indicted seven Iranian individuals who were employed by two Iran-based computer companies on computer hacking charges related to their involvement in an extensive campaign of over 176 days of distributed denial of service (DDoS) attacks. The companies for whom they worked were ITSecTeam (ITSEC) and Mersad Company (MERSAD), both of which worked on behalf of the Iranian government, including the Islamic Revolutionary Guard Corps.1 (more…)