Banki Convicted Of Violating Iran Embargo

Law360, New York (June 4, 2010, 6:12 PM EDT) -- A jury has convicted a former McKinsey & Co. consultant of violating a trade embargo against Iran by operating an informal money transferring system that was intended to distribute funds to the country.

A jury in the U.S. District Court for the Southern District of New York on Friday found Mahmoud Reza Banki guilty of violating the International Emergency Economic Powers Act, executive orders and U.S. Department of the Treasury regulations; conducting an unlicensed money transmitting business; and conspiring to commit those crimes.

Banki faces a...
To view the full article, register now.