Home / Crime and Justice / London Banker Accused in Iran Sanctions Scheme
London Banker Accused in Iran Sanctions Scheme
15 Mar
Summary
- Businessman accused of controlling Iran oil front company.
- US claims company helped Iran generate billions in revenue.
- Allegations involve misappropriation of £123 million.
A businessman residing in London faces serious accusations of orchestrating a scheme to circumvent US sanctions, potentially generating billions of dollars for the Iranian regime. Arshiya Jahanpour is alleged to have controlled a front company tied to Iran's primary petrochemical firm.
Court documents filed with the High Court claim Jahanpour dishonestly permitted the misappropriation of £123 million from Alliance Petrochemical (API), a Singapore-based oil entity. This company reportedly holds a 60% stake in Mehr Petrochemical Company (MHPC), which the US Treasury has identified as part of a network enabling Iran to sell petrochemicals.
Jahanpour, who resides in a £7 million London property, has denied any control over MHPC or acting as a shadow director for API. The High Court claim is part of an international legal dispute concerning the alleged diversion of funds from Alliance's accounts, with claims and counter-claims involving other figures.
The situation remains ongoing, with no determinations made regarding the allegations. The legal feud highlights complex international financial dealings and sanctions enforcement.
