5 Men Accused Of Plotting To Sell Iranian Oil To Chinese Co.

Law360 (February 11, 2020, 10:50 PM EST) -- Five men have been arrested on charges of conspiring to buy sanctioned Iranian oil with the intent of flipping it to a Chinese refinery, the U.S. Department of Justice said in a complaint unsealed in Pennsylvania federal court on Tuesday.

Nicholas Hovan, 33, of New York, Zhenyu Wang, 39, of Dallas, Robert Thwaites, 30, of Dallas, Nicholas James Fuchs, 26, of Dallas, and Daniel Ray Lane, 38, of McKinney, Texas, are charged with one count of conspiracy and one count of violating the International Emergency Economic Powers Act after allegedly plotting since July, in Philadelphia and elsewhere, to make tens of...

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