Motor Oil Exec Pleads Guilty In Iran Export Scheme

Law360, New York (December 5, 2012, 3:27 PM EST) -- The former manager of motor oil company Delfin Group USA LLC pled guilty Tuesday in South Carolina federal court to charges that he attempted to skirt a U.S. trade embargo on Iran by sending shipments through the United Arab Emirates.

At a hearing Tuesday, Markos Baghdasarian reversed his earlier plea of not guilty. Baghdasarian, the former manager of North Charleston, S.C.-based Delfin USA, was previously indicted on charges he conspired to and did violate a standing embargo blocking U.S. companies from engaging in commercial transactions involving...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.