BAHRAIN FINES IRANIAN BANKS OVER ILLEGAL ACTIVITIES AND JAILS 3 OFFICIALS

On 19 June, Asharq al Aswat reported that 3 officials of the Iranian-owned Future Bank officials have been sentenced to 5 years in prison and fined over 10 cases brought against them on charges of money laundering, funding terrorism and violating banking regulations. Future Bank and 3 other Iranian banks implicated in the schemes were also sentenced to fines taking the total of the fines to $185 million.  Future Bank operated under the supervision of Bank Melli Iran and Bank Saderat Iran.

https://english.aawsat.com/home/article/2342506/bahrain-fines-iranian-banks-over-illegal-activities

 

 

 

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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