Two Plead Guilty in Iran Export Cases
Two men in separate cases pleaded guilty to charges related to breaking Iran sanctions regulations, the Justice Department said June 14 (here) in notices posted on Commerce's Bureau of Industry and Security website. Asim Fareed pleaded guilty to conspiring to…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
provide false statements related to illegal goods exports to Iran before a magistrate judge in Wilkes-Barre, Pa. Fareed agreed to ship items bought by Iranian customers from New Jersey to Iran, and to provide false documentation to Commerce for export purposes, according to a press release. No sentencing date has been scheduled. In a New York federal court, Global Metallurgy CEO Erdal Kuyumcu pleaded guilty to one count of conspiracy to violate the International Emergency Economic Powers Act, in connection with the export of specialty metals from the U.S. to Iran. Kuyumcu “conspired” to obtain and export from the U.S. to Iran a metallic powder composed of cobalt and nickel without obtaining the required Office of Foreign Assets Control (OFAC) license. The powder can be used for turbine blades, missile production and nuclear applications, among other things. As part of the conspiracy, the 1,000-pound shipment was to go to Turkey before arriving in Iran. Kuyumcu faces up to 20 years in prison and a $1 million fine.