An online Muslim photo & wallpapers. Islamic wallpapers, latest news & updates.
Islamic Wallpapers
natutre_wallpaper_by _islamic_wallpaper
natutre_wallpaper_by _islamic_wallpaper
Allah Wallpaper
Filed under: Latest News — admin     2:27 pm June 22, 2011

Iran’s largest shipping company used a vast network of shell companies to move $60 million through New York bank accounts over the past three years in violation of U.S. trade sanctions, prosecutors said on Monday.

In a 317-count indictment, Manhattan District Attorney Cyrus Vance Jr. alleged that Islamic Republic of Iran Shipping Lines, or Irisl, and its affiliates used aliases in Singapore, the United Arab Emirates and the U.K. to trick banks into processing wire transfers that normally would have been blocked or seized.

“They would create new companies—corporate alter egos—to take the place of the sanctioned companies in international transactions,” Mr. Vance said. The international shipping industry conducts business primarily in U.S. currency and therefore firms involved in international shipping must have access to the U.S. financial system, he said.

Irisl didn’t respond to requests to comment.

The U.S. government in recent years has focused on Irisl. It first became subject to U.S. sanctions in September 2008 by the Treasury Department, which said Irisl played a role in supporting Tehran’s nuclear and broader military programs.

The Manhattan District Attorney’s office has historically pursued cases internationally, using New York’s status as one of the financial capitals of the world as a basis for bringing such cases. A tip about a year ago led to the unraveling of a vast network of shell companies involving Irisil, according to a person familiar with the matter.

In a coordinated announcement on Monday, the Office of Foreign Assets Control at the Treasury Department named an additional 10 entities and three individuals as being affiliated with Irisl. Since 2008, Treasury officials have designated a total of 121 companies and individuals affiliated with Irisl.

Heightened surveillance of Irisl’s fleet has also led to the seizure of thousands of tons of arms that U.S. and U.N. officials say they believe were headed to Iran’s allies in Lebanon, Syria and the Palestinian territories. Adam Szubin, OFAC’s director, said on Monday that Irisl would go so far as to repeatedly change the names of its ships and repaint them in order to evade sanctions.

Source : Wall Street Journal

No Comments »

No comments yet.

RSS feed for comments on this post. TrackBack URL

Leave a comment

Islamic Wallpapers
We are Hiring
Join Community, Make Friends
Latest News
  • UK: Islamic leader from Israel under detention in UK
  • Islamic terrorism still a threat: Germany
  • Dubai Islamic Bank unveils new concept Al Islami Private Banking branch
  • Anger trails introduction of Islamic Banking
  • FPI ‘Visits’ Nightclubs Ahead of Ramadan
Urdu News
Hindi News
  • डीजल कार खरीदना है फायदे का सौदा?
  • टाटा ग्रुप की मार्केट वैल्यू 100 अरब डॉलर के पार
  • इंश्योरेंस परखने का ऑनलाइन जरिया
  • बदल सकता है हाउसिंग फाइनैंस का फ्यूचर
  • भारत का आर्थिक विकास शानदार: US
Kalima Shahada mentioned in Quran
Stories of Sahabah
Popular Quran Quotes
Random 40 Hadith
Modern Muslim Women & Challenges
Marriage & family in Islam
Muslim Women World
Health, Beauty and Islam
Latest Posts
Muslim Women Rights In Islam
Random Photo
  • muslim_girl_kualampur
Bookmark and Share
Sponsored Links
  1. Surat Web Design
  2. Web Desgin Company
  3. kolkata Web Design Company
Most Popular Video
Facebook Like
Recent Comment
About Muslim Wallpapers
Islamic Blog provides information about latest Islamic News and updates. The website also contains large number of Islamic wallpapers and photos. You can also get here Islamic knowledge. We have also collected information about latest and relevant Islamic subjects. Apart from this you can find glittering stories off Sahabah.
Copyright © 2003-2010 All Rights Reserved.