Founder of Iranian firm accused of plotting sanctions violations pleads guilty in US court
Founder of Iranian firm accused of plotting sanctions violations pleads guilty in US court
An Iranian businessman accused of violating US sanctions through his financial services firm has pleaded guilty, the US Justice Department said.
2 min read
Payment24 is an internet-based financial services company employing some 40 people in Iran [Getty]
The founder and CEO of an Iranian financial services company has pleaded guilty in the US' Federal Court, the US Justice Department said in a press release on Tuesday.
Seyed Sajjad Shahidian, the founder and Chief Executive Officer of Payment24, conspired to commit offences against the US by violating trade and export restrictions to Iran, the statement said.
Shahidan pleaded guilty in a district court in Minneapolis for one count of conspiracy to defraud and commit offenses against the US.
The Iranian citizen was reportedly arrested in London in November 2018, and extradited to the US last month.
"Shahidian feels very remorseful for his actions and is taking responsibility for [his] actions," Manny Atwal, a public defender representing Shahidian told the Wall Street Journal.
Seyed Sajjad Shahidian, the founder and Chief Executive Officer of Payment24, conspired to commit offences against the US by violating trade and export restrictions to Iran, the statement said.
Shahidan pleaded guilty in a district court in Minneapolis for one count of conspiracy to defraud and commit offenses against the US.
The Iranian citizen was reportedly arrested in London in November 2018, and extradited to the US last month.
"Shahidian feels very remorseful for his actions and is taking responsibility for [his] actions," Manny Atwal, a public defender representing Shahidian told the Wall Street Journal.
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Shahidian, 33, admitted to opening hundreds of PayPal accounts using fraudulent passports and other false residency documentation on behalf of his firm, according to the WSJ.
Shahidian was the founder and former CEO of Payment24 – an internet-based financial services company which employs some 40 people in Tehran, Shiraz and Isfahan, Iran, According to court documents.
Prosecutors alleged Payment24 helped Iranian citizens conduct prohibited financial transactions with US-based companies, as well as purchase computer software and lisences.
The businessman reportedly also admitted to making misrepresentations to US businesses about the destinations of the goods.
Shahidian is set to be sentenced on 15 October.
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