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US Supreme Court rejects challenge by Turkey’s Halkbank to prosecution
The Supreme Court allowed fraud and sanctions evasion charges to proceed against Halkbank, accused of transferring $20 billion to help Iran evade U.S. sanctions.
- On Monday, the US Supreme Court declined to hear Halkbank’s appeal, leaving a lower court ruling intact and allowing the prosecution to proceed.
- U.S. prosecutors allege Halkbank, Turkey’s state-owned lender, secretly transferred $20 billion in restricted funds, converted Iranian oil revenue into gold and cash, and used fake shipments to justify transfers.
- Using intermediaries and front companies in Iran, Turkey, and the UAE, prosecutors say Halkbank is linked to earlier prosecutions, including the conviction of Mehmet Hakan Atilla, and has pleaded not guilty.
- Turkey hopes to resolve the dispute through a relatively modest fine, though failure to settle may lead to prolonged legal battles; last month, Turkish President Recep Tayyip Erdogan raised the issue during a White House visit.
- Last year the 2nd U.S. Circuit Court of Appeals rejected Halkbank’s claim of common-law immunity, and the Justice Department told the Supreme Court on August 6 that such immunity does not apply.
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16 Articles
16 Articles
US Supreme Court Rejects Challenge by Turkey's Halkbank to Prosecution
The Supreme Court declined on Monday to hear another bid by Turkey’s state-owned lender Halkbank to avoid fraud, money laundering and conspiracy charges in the United States for allegedly helping Iran evade American economic sanctions.
·New York, United States
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US Supreme Court rejects challenge by Turkey's Halkbank to prosecution
The Supreme Court declined on Monday to hear another bid by Turkey's state-owned lender Halkbank to avoid fraud, money laundering and conspiracy charges in the United States for allegedly helping Iran evade American economic sanctions.
·United Kingdom
Read Full Article
Coverage Details
Total News Sources16
Leaning Left4Leaning Right0Center4Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
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