NEW YORK (AP) — An Iranian man has been arrested on charges that he evaded U.S. economic sanctions against Iran by sending more than $115 million from Venezuela through U.S. banks.
Prosecutors said Tuesday that Ali Sadr Hashemi Nejad created front companies and foreign bank accounts to mask his dealings with Iranian businesses in Venezuela.
His lawyer did not immediately comment.
Prosecutors say Sadr’s money transfers to evade sanctions were made between April 2011 and November 2013. They say the money for a Venezuelan housing complex was illegally funneled through the U.S. financial system to benefit Iranian individuals and entities.
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The 38-year-old Sadr was charged with conspiracy to defraud the United States and violate sanctions, among other charges.
If convicted, Sadr could face a sentence of up to 125 years in prison.