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Five Americans Charged With Breaking Iran Oil Sanctions

February 12, 2020

Five U.S. citizens have been charged with an attempt to violate U.S. sanctions against Iran by buying oil from Iran and selling it in China, the U.S. Attorney’s Office for the Eastern District of Pennsylvania said in a statement.

 

The accused are all but one from Texas, with the last one from New York, and they were each charged with “one count of conspiracy and one count of violating IEEPA, based on allegations that from July 2019 to February 2020 they conspired in Philadelphia and elsewhere to arrange for the purchase of oil from the Islamic Republic of Iran, in violation of United States economic sanctions imposed on Iran, for sale to a refinery in China.”

 

The alleged conspiracy involved a shell company based in Poland, through  which they would buy the oil, with plans for two shipments every month that would generate profits seen at some $28 million monthly. What’s more, one of the accused, Daniel Ray Lane, had offered to launder the money from the sale of the Iranian oil through a company he owns called STACK Royalties.

 

FULL REPORT

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