Criminal penalties for violating U.S. trade sanctions against the Iranian regime apply to actions of a foreign national outside of the United States, a federal judge ruled Monday.
Gold trader Reza Zarrab, under arrest for using his companies in Turkey and the United Arab Emirates to illegally trade with Iran, argued he could not be liable for conspiracy to defraud the United States and impede its Office of Foreign Assets Control. He also argued he could not be held liable for violating the International Emergency Economic Powers Act and the Iranian Transactions and Sanctions Regulations.
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