Arrest of an Iranian in the U.S. for Illegally Transferring $115 Million to Iran

According to reports from the U.S., an Iranian has been arrested on charges of circumventing U.S. sanctions and transferring $115 million to Iran. The arrested individual, Ali Sadr Hashemi Nejad, 38, reportedly managed a bank in Malta. Reuters states that Mr. Sadr Hashemi Nejad transferred this money under the guise of a business contract with a construction company in Venezuela through the U.S. financial system. The New York District Attorney's office says Sadr's family controls a company named 'Startos,' which is a financial group engaged in international economic activities. This group is responsible for a project to build thousands of homes in Venezuela, stemming from agreements made between Tehran and Caracas in 2004 and 2005. The indictment against Sadr Hashemi Nejad mentions that an Iranian company referred to by the 'Startos' group as the 'International Housing Company of Iran' reached an agreement in 2006 with a state-owned energy company in Venezuela to construct 7,000 homes for $476 million. The prosecution claims Sadr was a member of the committee overseeing this project. He allegedly used this project to bypass U.S. sanctions and took steps to transfer money through the U.S. financial system while concealing Iran's involvement. According to Reuters, Pilatus Bank, which Sadr Hashemi Nejad headed, was involved in a legal dispute with a Maltese journalist named Daphne Caruana Galizia, who was killed last October. This legal dispute was related to reports by Ms. Galizia accusing the bank and Ali Sadr of 'political corruption' and 'money laundering.' Pilatus Bank has denied these allegations, calling them 'fake.' A former employee of the bank, believed to be a source for the Maltese journalist, was arrested on Monday. Bloomberg reports that Ali Sadr was arrested in Dulles, Virginia, and has been transferred to New York. Bloomberg's attempts to contact Mr. Sadr's lawyer have been unsuccessful.