Home / Crime and Justice / US Seizes $61M Linked to Iran's Black Market Oil
US Seizes $61M Linked to Iran's Black Market Oil
15 Sep
Summary
- US Justice Department seeks forfeiture of $61 million.
- Funds allegedly from Iranian black-market oil sales.
- Allegations involve money laundering through Binance.
The U.S. Justice Department is initiating legal action to seize $61 million. Federal prosecutors in Manhattan have formally filed a civil forfeiture claim, asserting that these funds were generated through illicit black-market oil sales by Iran. These allegedly illicit proceeds were then laundered using the cryptocurrency exchange Binance.
The ongoing investigation points to a network employed by Iran to conduct these underground oil transactions. The Justice Department's move signifies a significant step in disrupting financial flows connected to the Iranian regime's non-sanctioned oil trade and its use of digital assets for money laundering.
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