Turkish Bank Charged in Manhattan Federal Court for Its Participation in a Multibillion-Dollar Iranian Sanctions Evasion Scheme

www.justice.gov | 10/26/2017 | Staff
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The Department of Justice announced that TÜRKİYE HALK BANKASI A.S., aka “Halkbank,” was charged today in a six-count indictment with fraud, money laundering, and sanctions offenses related to the bank’s participation in a multibillion-dollar scheme to evade U.S. sanctions on Iran. The case is assigned to United States District Judge Richard M. Berman.

“Halkbank, a Turkish state-owned bank, allegedly conspired to undermine the United States Iran sanctions regime by illegally giving Iran access to billions of dollars’ worth of funds, all while deceiving U.S. regulators about the scheme,” said Assistant Attorney General for National Security John C. Demers. “This is one of the most serious Iran sanctions violations we have seen, and no business should profit from evading our laws or risking our national security.”

Facts - Trial - Halkbank - Manager - Jury

“The facts that emerged at the full, fair, and public trial of Halkbank’s deputy general manager, which culminated in a jury’s January 2018 guilty verdict against him, illustrated senior Halkbank management’s participation in this brazen scheme to circumvent our nation’s Iran sanctions regime," said U.S. Attorney Geoffrey S. Berman. "As alleged in today’s indictment, Halkbank’s systemic participation in the illicit movement of billions of dollars’ worth of Iranian oil revenue was designed and executed by senior bank officials. The bank’s audacious conduct was supported and protected by high-ranking Turkish government officials, some of whom received millions of dollars in bribes to promote and protect the scheme. Halkbank will now have to answer for its conduct in an American court.”

“As we allege today, Halkbank, a Turkish financial institution whose majority shareholder is the government of Turkey, willfully engaged in deceptive activities designed to evade U.S. sanctions against Iran," said FBI Assistant Director-in-Charge William F. Sweeney Jr. "Halkbank illegally facilitated the illicit transfer of billions of dollars to benefit Iran, and for far too long the bank...
(Excerpt) Read more at: www.justice.gov
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