2 Texas Men Convicted of Trying to Violate US Sanctions on Iran
Zhenyu Wang and Daniel Lane, both Texas residents, were convicted on Nov. 15 of attempting to skirt U.S. sanctions on Iran in violation of the International Emergency Economic Powers Act, DOJ announced. DOJ said they both tried to "transact in sanctioned Iranian petroleum and launder the proceeds" and were convicted of attempting to violate IEEPA, conspiracy to violate IEEPA, and conspiracy to commit money laundering.
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
From 2019 to 2020, the Texas men crafted a conspiracy to buy Iranian petroleum and "mask the origins" and sell it to a Chinese refinery in violation of U.S. sanctions. The men were charged in February 2020 along with three co-conspirators (see 2002120031), though they were indicted on the present charges in August 2020 (see 2008270029). They each face a maximum of 45 years in prison, 25 years of which would be served due to the charges related to U.S. sanctions evasion.
Scheduling will take place Feb. 29. Assistant Attorney General Matthew Olsen said DOJ "will not tolerate those who would violate U.S. sanctions and imperil our national security for personal profit."