“A federal criminal complaint unsealed today charges 10 Iranian nationals with running a nearly 20-year-long scheme to evade US sanctions on the government of Iran by disguising more than $300 million worth of transactions - including the purchase of two $25 million oil tankers - on Iran’s behalf through front companies in the San Fernando Valley, Canada, Hong Kong and the United Arab Emirates,” the release said on Friday.
In addition, a forfeiture complaint has been filed seeking a money laundering penalty of $157.3 million, the release said.
The Justice Department said the defendants used the Hong Kong-based company Total Excellence to secretly buy two oil tankers on behalf of Iran that were used to ship oil in violation of US and EU sanctions.
The defendants used more than 70 front companies, money service businesses and exchange houses to disguise some $300 million of transactions on Iran’s behalf while being perfectly aware of the US sanctions on Iran throughout the conspiracy, the release said.