ERBIL, Kurdistan Region – A United States court in Minnesota on Thursday sentenced an Iranian CEO of a financial services company to nearly two years in jail for his role in financial transactions that violated US sanctions against Iran.
Seyed Sajjad Shahidian was founder and CEO of PAYMENT24, an internet-based financial services company that, according to court documents, helped Iranian citizens conduct financial transactions with US-based businesses, including the purchase of computer software and servers. The business brought millions of US dollars into Iran.
PAYMENT24 “employed fraudulent tactics designed to circumvent United States sanctions lawfully imposed on the Government of Iran. Such actions are criminal and threaten our national security interests,” said US Attorney Erica MacDonald in a statement.
Shahidian, an Iranian citizen, was arrested in London in November 2018 and extradited to the US in May of this year. He pled guilty to the charge of conspiracy to defraud and commit offenses against the United States. He was sentenced to 23 months in prison.
“In Iran, based on his illegal business, Mr. Shahidian had been a high-profile executive and a millionaire. He is now a convicted felon who has lost everything,” said MacDonald.
Prosecutors accused Shahidian of using fraudulent passports and identity documents to circumvent the sanctions.
Washington imposed crippling sanctions against Iran after President Donald Trump withdrew from the nuclear deal in May 2018.
“Today’s sentencing sends a clear message that those who try to willfully violate US sanctions against Iran will be held accountable,” said Michael Paul of the Federal Bureau of Investigation (FBI).
Seyed Sajjad Shahidian was founder and CEO of PAYMENT24, an internet-based financial services company that, according to court documents, helped Iranian citizens conduct financial transactions with US-based businesses, including the purchase of computer software and servers. The business brought millions of US dollars into Iran.
PAYMENT24 “employed fraudulent tactics designed to circumvent United States sanctions lawfully imposed on the Government of Iran. Such actions are criminal and threaten our national security interests,” said US Attorney Erica MacDonald in a statement.
Shahidian, an Iranian citizen, was arrested in London in November 2018 and extradited to the US in May of this year. He pled guilty to the charge of conspiracy to defraud and commit offenses against the United States. He was sentenced to 23 months in prison.
“In Iran, based on his illegal business, Mr. Shahidian had been a high-profile executive and a millionaire. He is now a convicted felon who has lost everything,” said MacDonald.
Prosecutors accused Shahidian of using fraudulent passports and identity documents to circumvent the sanctions.
Washington imposed crippling sanctions against Iran after President Donald Trump withdrew from the nuclear deal in May 2018.
“Today’s sentencing sends a clear message that those who try to willfully violate US sanctions against Iran will be held accountable,” said Michael Paul of the Federal Bureau of Investigation (FBI).
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