A Minnesota man has been sentenced to 23 months in prison for conspiring to violate U.S. sanctions against Iran.
The defendant, Seyed Sajjad Shahidian, 33, was a citizen of Iran and the founder and CEO of a financial services firm called PAYMENT24. He was arrested in London, England on November 11, 2018, and extradited to the United States on May 15, 2020.
According to court documents, PAYMENT24 was an internet-based financial services company with approximately 40 employees and offices in Tehran, Shiraz, and Isfahan, Iran. The primary business of PAYMENT24 was helping Iranian citizens conduct prohibited financial transactions with businesses based in the United States.
The company’s website claimed to have brought in millions of dollars of foreign currency into Iran. Shahidian and his co-conspirators used fraudulent tactics, including false passports and IDs, to circumvent U.S. sanctions laws.
Shahidian pleaded guilty on June 18, 2018, and was sentenced to 23 months in prison by Judge Patrick J. Schiltz in U.S. District Court in Minneapolis, Minnesota.
Assistant Attorney General for National Security John C. Demers said, ‘Shahidian lied to U.S. suppliers, illegally transferred funds from Iran, used fraudulent passports and IDs, and established a business whose entire purpose was to circumvent U.S. sanctions and to enable others to do the same.’
U.S. Attorney Erica H. MacDonald added, ‘This prosecution holds Mr. Shahidian accountable for his crimes and sends a broader message to others considering violating sanctions laws that there are serious consequences for doing so.’
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Key Facts
- State: Minnesota
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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