Iranian National Convicted For Scheme To Evade U.S. Economic Sanctions By Illicitly Sending More Than $115 Million Through The U.S. Financial System
Geoffrey S. Berman, the United States Attorney for the Southern District of New York, announced that ALI SADR HASHEMI NEJAD was convicted today after a two-week jury trial. As the jury found, SADR orchestrated a multi-year scheme to funnel more than $115 million in payments related to a construction project in Venezuela through the U.S. financial system to SADR’s Iranian family business, in violation of U.S. sanctions against Iran. The Government established at trial that these payments benefitted Iranian individuals and entities, including the Iranian International Housing Company and its Iranian owner, Mohammad Sadr Hashemi Nejad (“Mohammad Sadr”). The jury convicted SADR of five counts, including conspiring to evade U.S. economic sanctions against Iran, to defraud the United States, and to commit bank fraud.
U.S. Attorney Geoffrey S. Berman said: “As the jury found, Ali Sadr Hashemi Nejad created a network of front companies and bank accounts to mask Iranian business dealings in Venezuela and evade U.S. sanctions. For years, Sadr used front companies in Switzerland, Turkey, and St. Kitts & Nevis to conceal the fact that $115 million in payments were really for his family business and relatives in Iran. Sadr’s conviction shows that U.S. economic sanctions against Iran are for real, and violators will be exposed and prosecuted.”
SADR, 40, of Iran, was convicted at trial of one count of conspiracy to defraud the United States, one count of conspiracy to violate the IEEPA, one count of bank fraud, one count of conspiracy to commit bank fraud, and one count of money laundering. SADR was found not guilty of one count of conspiracy to commit money laundering. A chart containing the charges and maximum penalties is below. The maximum potential sentences in this case are prescribed by Congress and are provided here for informational purposes only, as any sentencing of SADR will be determined by the judge.