Key witness in major US-Turkiye banking probe avoids prison | News. az
Reza Zarrab, the star cooperating witness in the U. S. government’s massive sanctions-evasion investigation into Turkish state-run lender Halkbank, will not serve any new prison time. At a federal court hearing. . .
Reza Zarrab, the star cooperating witness in the U. S. government’s massive sanctions-evasion investigation into Turkish state-run lender Halkbank, will not serve any new prison time. At a federal court hearing in Manhattan, U. S. District Judge Richard Berman sentenced the 42-year-old Turkish-Iranian gold trader to time served. The decision came after federal prosecutors urged the judge to show leniency in light of Zarrab's extensive cooperation with the government's high-profile case,News. azreports, citingReuters. Zarrab originally pleaded guilty in October 2017 to conspiring to evade U. S. sanctions against Iran. His insider testimony became the backbone of the government's case againstHalkbankexecutives. RECOMMENDED STORIESEx-Turkish footballer Nihat Kahveci briefly detained over assault allegationIsrael suspends Armenia genocide recognition voteWhy are Greece and Türkiye at odds? Understanding the decades-long tensions between two NATO alliesIran condemns Turkish FM's 'astonishing' comparison with IsraelThe U. S. investigation exposed a massive financial scheme involving:$20 billion in restricted Iranian funds secretly transferred through the financial system. The conversion of Iranian oil revenue into gold and cash to bypass international restrictions. The creation of fake food shipments used as a cover to justify the multi-billion-dollar transfers. Zarrab's 2017 trial testimony successfully led to the conviction of former Halkbank official Mehmet Hakan Atilla for his role in the operation. The criminal case had long been a major source of tension between NATO allies Turkiye and the United States, with Turkish President Recep Tayyip Erdogan previously condemning the U. S. prosecution as unlawful. However, the legal landscape shifted dramatically ahead of Tuesday's sentencing:Judge Berman formally dismissed all criminal charges against Halkbank last month. The dismissal followed a March agreement with the U. S. Justice Department, where Halkbank agreed to appoint an independent monitor to oversee its sanctions and anti-money laundering compliance. The Justice Department revealed that the resolution of the case was tied to Turkey's diplomatic role in securing a ceasefire between Israel and Hamas, marking a notable high point in U. S. -Turkiye relations. News. AzBy Aysel Mammadzada