Four Americans Indicted for Conspiring to Illegally Sell Iranian Petroleum to a Chinese Refinery – By Jerry Lambe (Law and Crime) / Aug 26 2020
Federal prosecutors in Pennsylvania on Wednesday indicted four American men for allegedly conspiring to purchasing Iranian petroleum to sell to a Chinese refinery as part of a scheme to subvert U.S. sanctions against Iran.
Nicholas Hovan, 34, Zhenyu Wang, 39, Robert Thwaites, 30, and Daniel Ray Lane, 39, are alleged to have devised a plan to illegally purchase the Iranian petroleum then turn around ship it to China twice per month, yielding them an expected profit of $28 million per month. Each of the men was charged with conspiracy, violating the International Emergency Economic Powers Act (IEEPA), and money laundering.
“The defendants in this case allegedly conspired to sell Iranian petroleum to a Chinese refinery in order to enrich themselves at the expense of the US Iran sanctions regime,” said Assistant Attorney General for National Security John C. Demers. “The defendants devised a scheme to use front companies, bribes, and false contractual documents in order to conceal their brazenly illicit activity. We will continue to leverage all of our tools to detect and prevent individuals such as these from engaging in actions that would have harmed the national security of this nation.”
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