Iranian CEO sentenced for conspiracy to violate U.S. sanctions

U.S. Courts Sentences Iranian To Prison Over Sanctions Evasion

Iranian CEO sentenced for conspiracy to violate US sanctions on Iran Seyed Sajjad Shahidian ICBPS MORNING BRIEF AP
Iranian CEO sentenced for conspiracy to violate US sanctions - Photo By Radio Farda.

MINNEAPOLIS (AP) — The founder and CEO of an Iranian financial services firm accused of conspiring to violate U.S. sanctions on Iran was sentenced Thursday to nearly two years in federal prison.

Seyed Sajjad Shahidian, 33, pleaded guilty in June to one count of conspiracy to defraud and commit offenses against the United States. Shahidian, a citizen of Iran, was arrested in London in November 2018 but wasn’t extradited to the U.S. until this past May.

Prosecutors say Shahidian lied to U.S. suppliers, illegally transferred funds from Iran, and used fraudulent passports and other documents, all to circumvent U.S. sanctions and enable others to follow suit.

“In Iran, based on his illegal business, Mr. Shahidian had been a high-profile executive and a millionaire. He is now a convicted felon who has lost everything,” U.S. Attorney Erica McDonald said in a statement.

Court documents show that Shahidian was the founder and former CEO of Payment24, an internet-based financial services company with about 40 employees and offices in Tehran, Shiraz, and Isfahan, Iran.

Prosecutors alleged that the primary business of Payment24 was helping Iranian citizens conduct prohibited financial transactions with businesses based in the United States, including the unlawful purchase and exportation of computer software, software licenses, and servers from the U.S. companies.

Mr. Shahidian admitted to opening hundreds of PayPal accounts on behalf of his Payment24 customers who resided in Iran and to unlawfully bringing millions of U.S. dollars into the economy of Iran.

 

Report by The Associated Press.

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Iranian CEO sentenced for conspiracy to violate US sanctions
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Iranian CEO sentenced for conspiracy to violate US sanctions
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MINNEAPOLIS (AP) — The founder and CEO of an Iranian financial services firm accused of conspiring to violate U.S. sanctions against Iran was sentenced Thursday to nearly two years in federal prison. Seyed Sajjad Shahidian, 33, pleaded guilty in June to one count of conspiracy to defraud and commit offenses against the United States. Shahidian, a citizen of Iran, was arrested in London in November 2018 but wasn’t extradited to the U.S. until this past May.
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The Institute of Capacity Building for Political Studies
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Institute of Capacity Building for Political Studies, ICBPS. All Rights Reserved. Follow us on Twitter: @ICBPS_En

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