“The defendants are each charged with one count of conspiracy and one count of violating IEEPA [International Emergency Economic Powers Act], based on allegations that from July 2019 to February 2020 they conspired in Philadelphia and elsewhere to arrange for the purchase of oil from... Iran, in violation of US economic sanctions imposed on Iran, for sale to a refinery in China,” the release said on Tuesday.
The Justice Department listed Nicholas Hovan, Robert Thwaites and Nicholas James Fuchs and Daniel Ray Lane as being charged in connection with the plot.
The plotters planned to sell the oil to a refinery in China represented by the fifth defendant, Zhenyu Wang, also known as Bill Wang, the Justice Department also said.
The charges also state that the defendants agreed to use a Polish shell corporation as a straw seller of the illicit oil and that they planned two shipments of oil per month going forward, all for great profit, the Justice Department added.