NY Consultant Charged With Sending $4.7M To Iran

Law360, New York (January 11, 2010, 12:12 PM EST) -- A management consultant for a major New York consulting firm has been charged with violating the U.S. trade embargo against Iran by wiring around $4.7 million to the Mideast country.

Mahmoud Reza Banki, identified by the Wall Street Journal as a former McKinsey & Co. employee, was arrested in New York on Thursday, the same day an indictment against him was unsealed in the U.S. District Court for the Southern District of New York.

Banki is accused of operating a hawala, or an informal money transfer...
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