We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Iranian Banker's Bail Bid Iffy In $115M Sanctions-Dodging Row

Law360, New York (April 11, 2018, 8:47 PM EDT) -- A New York federal judge on Wednesday seemed skeptical of a bid for bail by the Iranian chairman of a Maltese bank charged with evading sanctions by funneling $115 million in Venezuelan construction funds through American banks, voicing concern that his family’s vast wealth might make him a flight risk.

Ali Sadr Hashemi Nejad, the 38-year-old scion of the family behind Iranian conglomerate Stratus Group — which has international operations in the construction, banking and oil sectors — is charged with using front companies in Turkey...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.