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US Sanctions Evasion Trial May Detail Involvement of Turkish Bank: Sources

By Valentina Pasquali

The trial of a Turkish-Iranian businessman accused of violating U.S. sanctions against Iran promises to outline the role a state-owned Turkish bank played in the scheme, say sources. New York federal prosecutors initially charged 34-year-old Reza Zarrab and two of his alleged partners in March 2016 with using money exchangers and front companies in Iran, Turkey and the United Arab Emirates to funnel hundreds of millions of dollars through U.S. banks on behalf of blacklisted Iranian entities over a 6-year period. U.S. criminal charges have subsequently been filed against three executives at Turkish state-owned lender Turkiye Halk Bankasi, or Halkbank,...

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