US COURT OF APPEAL AFFIRMS BANK FRAUD CONVICTIONS IN SANCTIONS EVASION CASE

On 31 July, an article from Clifford Chance reported on what it says is the first appellate court decision to affirm a bank fraud conviction in the context of a scheme to evade US sanctions – involving Halkbank, a Turkish state-owned bank.   In the case, Mehmet Hakan Atilla and his co-conspirators helped to steer billions of US dollars to Iran by disguising Iranian oil proceeds as permissible payments and humanitarian assistance. The article points out that, since bank fraud charges carry a longer statute of limitations and do not require the same proof of willfulness as other potential offences, the practice of charging bank fraud heralds a significant expansion of potential criminal liability

https://www.cliffordchance.com/content/dam/cliffordchance/briefings/2020/07/Second-Circuit-Affirms-Bank-Fraud-Convictions-in-Sanctions-Evasion-Case.pdf

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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