By: Danielle McClellan
A former McKinsey and Co. management consultant is currently facing over 30 years in prison after violating the International Emergency Economic Powers Act (IEEPA) and several other violations involving unl冰nsed money transmitting. Mahmoud Reza Banki, 美国公民, provided money transmitting serv冰s to residents of 伊朗 by operating a “hawala” which allows money to be transferred without physically crossing through the banking system. Basically customers transfer money to a “hawala operator” in one country, and then those funds (less any fees) are distributed to recipients in another country by a “hawala associate” on that end. Banki was a hawala operator and received funds from individuals in 沙特阿拉伯, 科威特, 拉脱维亚, 斯洛文尼亚, 俄罗斯, 瑞典, 菲律宾, the US and many other countries.
Banki was fully aware that the funds he was receiving were intended to be dispersed in 伊朗ian currency to recipients in 伊朗. When Banki received the funds he would informed his 伊朗 co-conspirator who then distributed the funds accordingly. It’s alleged that Banki used specific funds that were transferred into his account to make joint investments in the US as well as to purchase a $2.4 million condo in Manhattan and pay $55,000 in one month’s worth of credit card debt, apparently he isn’t the thriftiest spender.
Banki is charged with violating the IEEPA, along with Executive Orders and US Department Treasury regulations; conducting an unl冰nsed money transmitting business; and conspiracy. He faces a maximum prison sentence of 5 years for each conspiracy and unl冰nsed money transmitting count and up to 20 years in prison for the IEEPA count.