Wednesday, October 28, 2020

Turkey’s Halkbank wants US charges on Iran sanctions dismissed

-

Turkey’s state-owned Halkbank, which has been criminally charged by US  prosecutors with helping Iran evade sanctions, will seek to dismiss the case against it, the bank’s lawyer has said in a letter.

Andrew Hruska, a lawyer for Halkbank, sent a letter on Monday to US District Judge Richard Berman in Manhattan, stating that the bank was not agreeing to appear in court on the charges, Reuters news agency reported.

The bank has permitted Hruska to appear in court, but only to ask for a dismal of the case.

In the letter, Hruska said that Halkbank would also seek to have the judge recused from the case.

- Advertisement -

Hruska, without giving details, said the judge had “made statements both in and out of the courtroom that call into question the court’s impartiality”.

A hearing is scheduled for the case on Tuesday, and prosecutors have said they may seek a fine against Halkbank if it refuses to appear.

US prosecutors on 15 October charged Halkbank with fraud and money laundering over an alleged “multibillion-dollar scheme to evade US sanctions on Iran”.

The US government is accusing the bank of using money, businesses and front companies to transfer $20bn in oil revenues to Iran – money that would have been restricted by Washington’s sanctions against the Islamic Republic.

- Advertisement -

Hruska said in Monday’s letter that the bank’s “incidental contacts with the US are insufficient to establish… jurisdiction” in the New York federal court, Reuters said.

Last year, the bank’s deputy general manager, Mehmet Hakan Atilla, was found guilty and sentenced to two years and eight months in jail over similar charges.

Reza Zarrab, a Turkey-based gold trader, had pleaded guilty in the same case and testified against Atilla.

But the charges in this case are levelled against Halkbank itself, with Washington seeking the forfeiture of the reported $20bn obtained by the bank as a result of the alleged scheme.

The charges against Halkbank came less than 24 hours after US President Donald Trump issued sanctions against Turkey over Ankara’s military offensive in northern Syria.

While the US brokered a ceasefire agreement on 17 October and lifted the economic sanctions imposed over the offensive, the charges levied against Halkbank are related to US sanctions against Iran.




MUST READ

Beam Suntory Inc. fined $19.6 million in foreign bribery case

Beam Suntory Inc. (Beam), a Chicago-based company that produces and sells distilled beverages, has agreed to pay a criminal monetary penalty of $19,572,885 to...

Julius Baer to deny two former CEOs their bonuses over money laundering scandal

Julius Baer will withhold millions of francs in bonuses from its former chief executives Boris Collardi and Bernhard Hodler, as a result of a...

Goldman Sachs executives to cover part payments of $3 billion fines in 1MDB scandal

Nine current or former Goldman Sachs executives, including CEO David Solomon, will have to pay back hundreds of millions of dollars in compensation over...

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

Subscribe For More

Get our daily notification on the latest financial crimes news around the World

Advertisement
Advertisement

Latest News

This Week

Texas attorney general Ken Paxton fires top aide who accused him of bribery

Lacey Mase, one of the top aides who accused Texas Attorney General Ken Paxton of crimes including bribery and abuse of office, has been fired, she told The...

Mozambique seeks prosecution of ex-Credit Suisse bankers implicated in debt scandal

Mozambique's Attorney General's Office said on Wednesday it will seek the extradition of three former Credit Suisse CSGN.S bankers implicated in a $2 billion debt scandal...

Newark city councilman charged in bribery and kickback scheme

Joseph A. McCallum Jr., a city councilman in Newark's West Ward, has been accused of taking part in a "bribery and kickback" scheme involving...

Swiss court upholds money-laundering conviction of ex-Ukrainian lawmaker Martynenko

A Swiss court has upheld the conviction of former Ukrainian lawmaker Mykola Martynenko for laundering via Swiss banks millions of dollars worth of kickbacks...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks