Gold trader gets time served in Iran sanctions case that strained US-Turkey relations
Judge Richard M. Berman credited Zarrab’s cooperation after he testified against a Halkbank executive in a case tied to $20 billion in sanctioned funds.
- On Tuesday, U.S. District Judge Richard Berman sentenced gold trader Reza Zarrab to time served, concluding a legal saga over Iran sanctions that strained ties between the United States and Turkey.
- Zarrab previously testified he paid bribes to Turkish officials to facilitate sanctions evasion, while Turkish President Recep Tayyip Erdogan publicly disparaged the case as a plot to "blackmail" Turkey.
- The Justice Department dismissed charges last month against Halkbank, a state-run institution indicted in 2019 for helping Iran move $20 billion in sanctioned oil revenue.
- In a pre-sentence memorandum, Zarrab's lawyers claimed he is "destitute and heavily in debt," noting he forfeited a $288,000 boat and $88,000 in cash to the U.S. government.
- The dismissal of the Halkbank case relieved a longstanding irritant between NATO allies, with ties improving since President Donald Trump returned to the White House last year.
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Associated Press News
Gold trader gets time served in Iran sanctions case that strained US-Turkey relations
Reza Zarrab, a businessman who admitted conspiring with a Turkish bank to help Iran evade U.S. sanctions by trading its oil for gold, was sentenced Tuesday to time already served after cooperating with investigators in a case that strained relations between the U.S. and Turkey.
Key witness in US probe of Turkey's Halkbank avoids prison time
NEW YORK, July 14 - A key cooperating witness in the U.S. government's criminal investigation into Turkish state-run lender Halkbank's alleged role in helping Iran evade sanctions avoided prison time at his sentencing hearing on Tuesday. Read more at straitstimes.com.
Key witness in US probe of Turkey's Halkbank avoids prison time - NewsTmes.com.ng
NEW YORK, July 14 – A key cooperating witness in the U.S. government’s criminal investigation into Turkish state-run lender Halkbank’s alleged role in helping Iran evade sanctions avoided prison time at his sentencing hearing on Tuesday. Reza Zarrab was sentenced to time served by U.S. District Judge Richard Berman at a hearing in Manhattan federal … The post Key witness in US probe of Turkey's Halkbank avoids prison time appeared first on NewsT…
A US court has delivered its verdict in the case of Reza Zarrab, who was on trial for violating sanctions against Iran and money laundering. Judge Richard Berman counted the time Zarrab had already spent in prison towards his sentence and did not impose additional jail time.
The court has announced its verdict regarding Reza Zarrab, who was tried in the US on charges of violating sanctions, fraud, and money laundering, and who pleaded guilty and became a cooperating witness.
A US court did not impose an additional prison sentence on Reza Zarrab, who was on trial for his role in circumventing sanctions against Iran, counting the time he had already served towards his sentence. Zarrab was released due to his cooperation with the prosecution.
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