FAST FIVE: Massive Leak Confirms Turkey's "Gold-For-Gas" Scheme To Evade US Sanctions On Iran
Enough gold that for a time he became the government's key instrument in improving Turkey's irksome economic imbalance.
Included in the voluminous Formations House documents is a register of shareholders in an offshore company called Naftiran Intertrade Company Ltd, or NICO.
and to help shield the scheme from the scrutiny of US regulators.” Shortly after his arrest, Zarrab, who is married to a Turkish pop star and has citizenship in Iran as well as Turkey, implicated Turkish President Recep Erdogan as having approved the operation.
“Ending anonymous shell companies would make it easier for law enforcement to 'follow the money' when investigating complex financial crimes like sanctions evasion.” By constantly switching domiciles, NICO may have sought to ease political pressures, according to a former senior official at the US Treasury Department.
The official previously worked on Iran sanctions and international money-laundering investigations and requested anonymity in order to discuss non-public matters.