Posted on 05/11/2018 6:36:08 AM PDT by Texas Fossil
“Trojan Horse” inside Bahrain, facilitating more than USD 7 billion of Iranian business
According to Bahrain’s defence, a lookback into the bank’s historic business shows that it was used by Iran as a “Trojan horse” inside Bahrain, affording Iran “secret access” to the international monetary system in defiance of U.S. and other international sanctions intended to isolate Tehran.
Specifically, the bank is alleged to have avoided sanctions against Iran, to the tune of at least USD 7 billion, by deliberately removing or changing certain identifying information when transferring money between banks—a practice known as “wire-stripping.” Bahrain asserts that the auditors detected more than 4,500 instances of wire-stripping by Future Bank officials designed to conceal Iran’s role as the sender or recipient of funds.
As a result, Future Bank may have facilitated business for purposes of organized crime, arms proliferation and terrorism. The audit apparently identified “hundreds of bank accounts tied to individuals convicted of crimes including money laundering and terrorism financing, as well as phantom loans provided to companies that operate as fronts for Iran’s Islamic Revolutionary Guard Corps.”
The Washington Post obtained and reported the confidential PCA filing as well as a statement from Bahraini Foreign Minister Khalid bin Ahmed Al Khalifa, who summarized the audit as “reveal[ing] crimes and violations of Bahraini and international law of massive proportions.”
(Excerpt) Read more at natlawreview.com ...
This article gives a detailed description of the history of this. And specifically Melli Bank and Saderat Bank.
When Trump announced the re-imposition of sanction on Iran, this issue exposes the real impact the sanctions deliver. Put that on top of a $7 Billion bank fraud investigation? BAMM!
These 2 banks are pathways for IRGC and Quds forces. As well as Hamas and Hizballah.
I'm not a banker, but this will make it difficult for Iran's terrorist activity. These sanctions will severely hurt Iran when re-implemented.
whitehouse.gov
Executive Order Blocking the Property of Persons Involved in Serious Human Rights Abuse or Corruption
Issued on: December 21, 2017
By the authority vested in me as President by the Constitution and the laws of the United States of America, including the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) (IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.) (NEA), the Global Magnitsky Human Rights Accountability Act (Public Law 114-328) (the “Act”), section 212(f) of the Immigration and Nationality Act of 1952 (8 U.S.C. 1182(f)) (INA), and section 301 of title 3, United States Code,
I, DONALD J. TRUMP, President of the United States of America, find that the prevalence and severity of human rights abuse and corruption that have their source, in whole or in substantial part, outside the United States, such as those committed or directed by persons listed in the Annex to this order, have reached such scope and gravity that they threaten the stability of international political and economic systems. Human rights abuse and corruption undermine the values that form an essential foundation of stable, secure, and functioning societies; have devastating impacts on individuals; weaken democratic institutions; degrade the rule of law; perpetuate violent conflicts; facilitate the activities of dangerous persons; and undermine economic markets. The United States seeks to impose tangible and significant consequences on those who commit serious human rights abuse or engage in corruption, as well as to protect the financial system of the United States from abuse by these same persons.
I therefore determine that serious human rights abuse and corruption around the world constitute an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States, and I hereby declare a national emergency to deal with that threat.
I hereby determine and order:
Section 1. (a) All property and interests in property that are in the United States, that hereafter come within the United States, or that are or hereafter come within the possession or control of any United States person of the following persons are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in:
(i) the persons listed in the Annex to this order;
(ii) any foreign person determined by the Secretary of the Treasury, in consultation with the Secretary of State and the Attorney General:
(A) to be responsible for or complicit in, or to have directly or indirectly engaged in, serious human rights abuse;
(B) to be a current or former government official, or a person acting for or on behalf of such an official, who is responsible for or complicit in, or has directly or indirectly engaged in:
(1) corruption, including the misappropriation of state assets, the expropriation of private assets for personal gain, corruption related to government contracts or the extraction of natural resources, or bribery; or
(2) the transfer or the facilitation of the transfer of the proceeds of corruption;
(C) to be or have been a leader or official of:
(1) an entity, including any government entity, that has engaged in, or whose members have engaged in, any of the activities described in subsections (ii)(A), (ii)(B)(1), or (ii)(B)(2) of this section relating to the leader’s or official’s tenure; or
(2) an entity whose property and interests in property are blocked pursuant to this order as a result of activities related to the leader’s or official’s tenure; or
(D) to have attempted to engage in any of the activities described in subsections (ii)(A), (ii)(B)(1), or (ii)(B)(2) of this section; and
(iii) any person determined by the Secretary of the Treasury, in consultation with the Secretary of State and the Attorney General:
(A) to have materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of:
(1) any activity described in subsections (ii)(A), (ii)(B)(1), or (ii)(B)(2) of this section that is conducted by a foreign person;
(2) any person whose property and interests in property are blocked pursuant to this order; or
(3) any entity, including any government entity, that has engaged in, or whose members have engaged in, any of the activities described in subsections (ii)(A), (ii)(B)(1), or (ii)(B)(2) of this section, where the activity is conducted by a foreign person;
(B) to be owned or controlled by, or to have acted or purported to act for or on behalf of, directly or indirectly, any person whose property and interests in property are blocked pursuant to this order; or
(C) to have attempted to engage in any of the activities described in subsections (iii)(A) or (B) of this section.
(b) The prohibitions in subsection (a) of this section apply except to the extent provided by statutes, or in regulations, orders, directives, or licenses that may be issued pursuant to this order, and notwithstanding any contract entered into or any license or permit granted before the effective date of this order.
Sec. 2. The unrestricted immigrant and nonimmigrant entry into the United States of aliens determined to meet one or more of the criteria in section 1 of this order would be detrimental to the interests of the United States, and the entry of such persons into the United States, as immigrants or nonimmigrants, is hereby suspended. Such persons shall be treated as persons covered by section 1 of Proclamation 8693 of July 24, 2011 (Suspension of Entry of Aliens Subject to United Nations Security Council Travel Bans and International Emergency Economic Powers Act Sanctions).
Sec. 3. I hereby determine that the making of donations of the types of articles specified in section 203(b)(2) of IEEPA (50 U.S.C. 1702(b)(2)) by, to, or for the benefit of any person whose property and interests in property are blocked pursuant to this order would seriously impair my ability to deal with the national emergency declared in this order, and I hereby prohibit such donations as provided by section 1 of this order.
Sec. 4. The prohibitions in section 1 include:
(a) the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any person whose property and interests in property are blocked pursuant to this order; and
(b) the receipt of any contribution or provision of funds, goods, or services from any such person.
Sec. 5. (a) Any transaction that evades or avoids, has the purpose of evading or avoiding, causes a violation of, or attempts to violate any of the prohibitions set forth in this order is prohibited.
(b) Any conspiracy formed to violate any of the prohibitions set forth in this order is prohibited.
Sec. 6. For the purposes of this order:
(a) the term “person” means an individual or entity;
(b) the term “entity” means a partnership, association, trust, joint venture, corporation, group, subgroup, or other organization; and
(c) the term “United States person” means any United States citizen, permanent resident alien, entity organized under the laws of the United States or any jurisdiction within the United States (including foreign branches), or any person in the United States.
Sec. 7. For those persons whose property and interests in property are blocked pursuant to this order who might have a constitutional presence in the United States, I find that because of the ability to transfer funds or other assets instantaneously, prior notice to such persons of measures to be taken pursuant to this order would render those measures ineffectual. I therefore determine that for these measures to be effective in addressing the national emergency declared in this order, there need be no prior notice of a listing or determination made pursuant to this order.
Sec. 8. The Secretary of the Treasury, in consultation with the Secretary of State, is hereby authorized to take such actions, including adopting rules and regulations, and to employ all powers granted to me by IEEPA and the Act as may be necessary to implement this order and section 1263(a) of the Act with respect to the determinations provided for therein. The Secretary of the Treasury may, consistent with applicable law, redelegate any of these functions to other officers and agencies of the United States. All agencies shall take all appropriate measures within their authority to implement this order.
Sec. 9. The Secretary of State is hereby authorized to take such actions, including adopting rules and regulations, and to employ all powers granted to me by IEEPA, the INA, and the Act as may be necessary to carry out section 2 of this order and, in consultation with the Secretary of the Treasury, the reporting requirement in section 1264(a) of the Act with respect to the reports provided for in section 1264(b)(2) of that Act. The Secretary of State may, consistent with applicable law, redelegate any of these functions to other officers and agencies of the United States consistent with applicable law.
Sec. 10. The Secretary of the Treasury, in consultation with the Secretary of State and the Attorney General, is hereby authorized to determine that circumstances no longer warrant the blocking of the property and interests in property of a person listed in the Annex to this order, and to take necessary action to give effect to that determination.
Sec. 11. The Secretary of the Treasury, in consultation with the Secretary of State, is hereby authorized to submit recurring and final reports to the Congress on the national emergency declared in this order, consistent with section 401(c) of the NEA (50 U.S.C. 1641(c)) and section 204(c) of IEEPA (50 U.S.C. 1703(c)).
Sec. 12. This order is effective at 12:01 a.m., Eastern Standard Time, December 21, 2017.
Sec. 13. This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
DONALD J. TRUMP
THE WHITE HOUSE,
December 20, 2017.
Saderat went to a new CEO about two months ago.
If you go around and view what the business sector has said over the past month....all of the big-name Iranian banks are in trouble. Several are selling off assets and just trying to survive. It’s been suggested that several might merge into single units, but I have doubt that they have enough positive numbers make mergers positive. What you probably up with....are maybe six to eight banks around Iran that might still be operating by the end of 2018 (out of thirty to forty that operate currently).
Just my humble opinion, but the Mullah guys really don’t understand the position of the banks and the necessity to emerge out of this embargo episode. They need Iran making money, and spending it.
Now I wonder who in the previous administration knew about this and BAILED OUT these banks with the cash?
Bail=jail.
Yep
In my view, there is likely a well thought out campaign plan for regime change in Iran, including (at least) the Gulf Arab States and Israel. Since the Iran nuke deal (JCPOA) precluded attack or subversion against Iran, pulling out of that deal was likely D-Day for the plan.
On D+1, within hours, Israel launched their biggest air offensive since the Yom Kippur War, against Iran and its surrogates in Syria. That took a bit of planning and prep time.
Also on D+1, the US Treasury Department, in partnership with Gulf Arab allies (I have seen stories so far from the UAE and Bahrain) to shut down financial accounts used by Iran and the Revolutionary Guards to launder money and evade sanctions. That was clearly the result of long investigation, and coordination.
Also on D+1, the Iranian currency (rial) took a nose dive.
As this article indicates, the Iranian banking system is a fragile house of cards, long since plundered of its capital by regime cronies, mullahs and Revolutionary Guards. When they close their doors, the population is likely to freak out. A few hundred thousand have been oppressing eighty million - if that eighty million insists, that will change.
I anticipate that many other actions have launched (economic, diplomatic, military and intelligence) that have not yet made the news. I also anticipate that this has been thought through significant phases and contingencies, including reconstruction and stabilization afterwards.
Free Iran!
They should be able to find the terrorists accounts? Bankrupt Hezbollah. Grrrrrr. I was just thinking. Hezbollah has been around for DECADES. Why has this been allowed to progress? Globalist bankers?
U.S., UAE crack down on network for smuggling funds to elite Iran group: https://www.reuters.com/article/us-iran-nuclear-usa-sanctions/u-s-sanctions-iran-currency-network-after-trump-pulls-out-of-nuclear-deal-idUSKBN1IB2I3
While their Quds Force gets destroyed in the field, their economy collapses, their personal wealth is stolen, their population masses in the streets, (and likely more), the Euros will want them on the phone and in meetings to renegotiate their JCPOA. They are going to have a full plate.
Don’t get caught being the among the last trying to flee!
I’m totally in.
I started using Twitter chasing news during the #IranElection (2009) phase. The public revolted against the stolen election and it almost worked.
The only news coming out then was via smart phones and the web.
Finally the Mullahs hired foreign techs and defeated “haystack” and caught/jailed thousands of young people. 1/2 were never heard from again.
The madness continues there. Friend of mine said 10,000 hanged in Iran.
This is a great evil that deserves extinction.
“10,000 hanged in Iran”
Time for their karma to catch up with them.
Without the current Iranian regime, it will be a long time before Assad’s depleted Army could threaten Rojava, leaving only Turkey and their jihadi militias to defend against. Turkey is direct in their method, but the Iranians are World class sophisticated subversives - much more difficult to defend against.
One of the challenges in the Middle East is establishing truth.
So is this pile of money from Saddam, from a theft at Abu Dhabi or just from Iran banks?
Maybe it is an Iranian regime rainy day fund, held by the Russians for them.
Outing this operation at this time, might be part of snatching away all their resources, as part of a coordinated regime change operation. Maybe the Russians (Putin’s network) get to keep it, as part of the deal - a reasonable payoff for shutting off the air defenses over Syria, and selling the Mullah’s down the river.
One big potential financial lifeline for the Iranian regime is China, who was recently slapped hard for Iranian sanctions busting (ZTE). It will be interesting to see if China participates in the feeding frenzy of stealing the mullahs hidden hoards, or tries to prop them up.
Just noticed that your article about a hoard of “abandoned” cash at the Moscow airport, was from 2013.
I don’t see what ever became of it...
The democrats do their own wire stripping.
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