On June 4, the United States sanctioned a major network of front companies for hiding assets on behalf of Iranian leaders. The Treasury targeted The Execution of Imam Khomeini’s Order and 37 ostensibly private businesses under it. Many are front companies involved in real estate, construction, banking, and other sectors of Iran’s economy. “While the Iranian government’s leadership works to hide billions of dollars in corporate profits earned at the expense of the Iranian people, Treasury will continue exposing and acting against the regime’s attempts to evade our sanctions and escape international isolation,” said Under Secretary for Terrorism and Financial Intelligence David S. Cohen. The Obama administration has implemented four rounds of sanctions in the past week alone. The following are excerpts from the press release, including a link to the full text at the end.
The Execution of Imam Khomeini’s Order (EIKO), through two main subsidiaries, oversees a labyrinth of 37 ostensibly private businesses, many of which are front companies. The purpose of this network is to generate and control massive, off-the-books investments, shielded from the view of the Iranian people and international regulators. EIKO and its subsidiaries – one that manages and controls EIKO’s international front companies, and another that manages billions of dollars in investments – work on behalf of the Iranian Government and operate in various sectors of the Iranian economy and around the world, generating billions of dollars in profits for the Iranian regime each year…
EIKO has made tens of billions of dollars in profit for the Iranian regime each year through the exploitation of favorable loan rates from Iranian banks and the sale and management of real estate holdings, including selling property donated to EIKO. EIKO has also confiscated properties in Iran that were owned by Iranians not living in Iran full-time. In addition to generating revenue for the Iranian leadership, EIKO has been tasked with assisting the Iranian Government’s circumvention of U.S. and international sanctions. Because of this unique mission, EIKO has received all of the funding it needs to facilitate transactions through its access to the Iranian leadership. The following companies are all part of this elaborate scheme: Lies den Rest dieses Beitrags