Fact-checked by Grok 2 weeks ago

Reza Zarrab

Reza Zarrab (born 1983) is an Iranian-born Turkish businessman and gold trader renowned for masterminding one of the largest sanctions-evasion schemes in modern history, through which he facilitated Iran's circumvention of U.S. financial restrictions by laundering over $20 billion in payments for oil and natural gas via Turkish banks, including state-owned Halkbank. Born in Tehran and relocated to Istanbul as an infant, Zarrab built his fortune in commodities trading starting in his teens, leveraging connections in Turkey's gold market to execute the illicit transactions that disguised Iranian funds as legitimate trade in precious metals. The scheme, operational primarily between 2012 and 2015, involved converting Iranian-held funds in into gold bars shipped to for sale, effectively repatriating billions while evading U.S. sanctions imposed under the . Zarrab's operations implicated high-level Turkish officials, whom he testified to bribing for protection and facilitation, underscoring involvement in the enterprise despite official denials from . Arrested by U.S. authorities in in March 2016 upon arrival for luxury shopping, he faced charges of , , and sanctions violations carrying potential decades in prison. In October 2017, Zarrab pleaded guilty and became a cooperating witness in the trial of Halkbank executive Mehmet Hakan Atilla, providing detailed testimony on the conspiracy's mechanics and his payments to Turkish ministers and bankers, which contributed to Atilla's on multiple counts. Under a agreement, Zarrab forfeited substantial assets but avoided incarceration, relocating to where he has since pursued new business ventures amid reports of continued opulent living. The case's ripple effects persist, with ongoing U.S. proceedings against highlighting tensions in bilateral relations over enforcement of sanctions.

Early Life

Birth and Family

Reza Zarrab, also known as Rıza Sarraf in Turkey, was born on September 12, 1983, in Tabriz, Iran, to parents of Iranian Azerbaijani ethnicity. His family background involved currency trading, with his father, Hossein Zarrab, operating exchange businesses and having established permanent residency in Turkey since 1976. The family relocated to Istanbul shortly after his birth, where Zarrab was raised and educated through high school. Public details on his mother remain sparse, though she has been described in Turkish media as a devout, unassuming housewife. Zarrab holds dual Iranian-Turkish citizenship, reflecting his upbringing across these countries' cultural spheres.

Education and Initial Influences

Zarrab was born in Tehran, Iran, in 1983 to parents of Azerbaijani descent. His family relocated to Istanbul, Turkey, shortly after his birth, when he was approximately 1.5 years old, where he spent his formative years. He completed his education through high school in Istanbul, with no records indicating pursuit of higher education or university studies. At age 16, Zarrab accompanied his family to , where he promptly established a small -trading enterprise employing three staff members, marking his initial foray into commerce. After approximately three years, he returned to and expanded his trade activities, beginning with imports before shifting toward precious metals and other goods. These early experiences—family migration across borders, exposure to Middle Eastern and Turkish markets, and hands-on business initiation without formal post-secondary training—shaped Zarrab's entrepreneurial approach, emphasizing practical trade networks over academic credentials. His precocious entry into trading at a young age reflects influences from familial adaptability to international commerce amid regional economic opportunities in the early 2000s.

Business Career

Entry into Trade and Early Ventures

Zarrab, born in in 1982, relocated to with his family at age 16, where he established an initial tea-trading business employing three staff members. Approximately three years later, upon returning to independently, he launched a brokerage and operation, marking his entry into precious metals and . In his early 20s, Zarrab co-owned Bella Investments Company LLC, a Dubai-based entity described as an investment firm that facilitated opaque financial transactions. By 2003, still a teenager, he partnered with an associate named Fathrazi to form Zafer Kuyumculuk, a Turkish jewelry business focused on gold-related trade, as documented in company records. Zarrab obtained Turkish through a foreign program around , enabling formal business establishment in . That year, he initiated operations with Royal Maritime A.S., a shipping-related venture, and co-founded Royal Holding alongside his brother Mohammed Zarrab (also known as Can Sarraf), expanding into maritime and structures. These early endeavors laid the groundwork for subsequent diversification into and , though details on their scale remain limited in public records prior to his involvement in larger gold exports.

Expansion in Gold and Precious Metals

Zarrab expanded his family's modest money-changing operations into and precious metals trading by leveraging his Hossein's connections to the Iranian regime, transforming it into a multifaceted enterprise that included currency exchange, jewelry manufacturing, and large-scale exports. Through entities such as Royal Holding A.S., Doviz Exchange, Asi Kiymetli Madenler Turizm Otom, and ECB Kuyumculuk Ic Vedis Sanayi Ticaret Limited Sirketi, he established an international network facilitating precious metals transactions, primarily between and , beginning around 2010. The business grew significantly amid Turkey's policy allowing gold exports to Iran as a sanctions workaround, with Zarrab's operations handling substantial volumes; in 2012 alone, Turkey-Iran trade reached 125.8 metric tons valued at $6.5 billion, much of which his network allegedly controlled, often routing through the UAE. By 2014, exports from his ventures reportedly peaked at up to 1 metric ton per day, generating estimated annual revenues of $3.5 billion at prevailing prices, with commissions yielding net profits of approximately $140 million after costs. In , amid tightening restrictions, Zarrab diversified further by partnering through his father in a refining facility in , established with associate Amir Fathrazi, who had collaborated with Zarrab since 2003 in Turkish jewelry firm Zafer Kuyumculuk. This venture linked the family to at least a dozen Iranian companies, six of which remained active as of later reports, underscoring the scale of expansion into despite a Turkish on direct exports to in July 2013.

Connections to Turkish Political Elite

Zarrab cultivated extensive ties to Turkey's Justice and Development Party (AKP) leadership during the expansion of his gold trading business in the early 2010s, leveraging these relationships to facilitate large-scale transactions involving precious metals exports. In December 2013, Turkish police investigations revealed allegations that Zarrab had paid bribes totaling approximately $60 million to then-Economy Minister Zafer Çağlayan to enable the conversion of Iranian natural gas payments into gold for export, bypassing international restrictions. Similar accusations surfaced against Interior Minister Muammer Güler and EU Affairs Minister Egemen Bağış, with wiretaps and documents purportedly capturing discussions of illicit payments tied to Zarrab's operations through state-linked entities like Halkbank. These connections extended to the highest levels of the hierarchy, including interactions with President Recep Tayyip Erdoğan's inner circle. U.S. prosecutors later presented evidence of Zarrab's pre-2016 communications with Erdoğan's son, , as documented in taped conversations, underscoring a network that insulated Zarrab's activities from scrutiny. Zarrab was briefly detained during the 2013 graft probes targeting Erdoğan's allies but released after four months, amid a government purge of investigators attributed by Erdoğan to a Gülenist infiltration attempt rather than legitimate inquiries. Reports also indicated Zarrab provided luxury gifts, such as a high-end handbag, to , the president's wife, further evidencing personal access to the family. The political elite's involvement allegedly streamlined Zarrab's business, with ministerial approvals accelerating shipments valued in billions, converting Iranian funds into physical assets for . Çağlayan, in particular, reportedly received ongoing kickbacks equivalent to 30% of certain transaction profits, paid via , watches, and property, as corroborated in subsequent U.S. filings superseding the original against him. These alliances positioned Zarrab as a key figure in Turkey-Iran trade, though Erdoğan publicly denied any impropriety, framing the exposures as politically motivated fabrications.

Sanctions Evasion Operations

Mechanics of the Iran Sanctions Bypass Scheme

Reza Zarrab orchestrated a multibillion-dollar scheme from approximately 2010 to 2016 to enable to access frozen revenues held in Turkish banks, primarily by disguising prohibited transactions as legitimate humanitarian trade and converting funds into physical for export. Iranian entities, including the and , accumulated roughly $20 billion in proceeds from and gas sales to , deposited in accounts at state-owned . To circumvent U.S. sanctions under the (IEEPA), which barred Iranian access to U.S. dollar clearing systems, Zarrab and associates exploited a narrow exemption for humanitarian goods like food and medicine. The core mechanic involved generating fictitious invoices through a network of front companies in and the UAE, purporting to represent exports of non-sanctioned goods to in exchange for the held funds. Zarrab's entities, such as Royal Holding A.S. and Durak Doviz Exchange, along with exchanges like Al Nafees, masked the Iranian origin and beneficiary of payments, allowing to release funds as if settling legitimate trade debts rather than direct sanctions violations. These misrepresented transactions enabled the routing of U.S. dollars through correspondent banks, which processed them without detecting the Iranian nexus due to the deceptive documentation. Funds were then converted into gold bars in Turkey, which were physically transported—often via air cargo or couriers—to Iran or intermediaries in Dubai, bypassing electronic transfer restrictions. This gold conversion step liquidated the currency holdings into a sanctions-resistant asset, with Halkbank facilitating the purchases despite internal knowledge of the scheme's illicit nature. Additional layers included multi-step wire transfers and cash smuggling to further obscure trails, ensuring Iran effectively repatriated value equivalent to billions in evaded sanctions. The operation relied on coordinated deception, including falsified trade records and beneficiary designations, to maintain plausible deniability before U.S. regulators.

Scale and Methods Employed

Zarrab orchestrated a scheme to evade U.S. sanctions on by disguising prohibited transactions as legitimate humanitarian trade, primarily involving the of and , which exploited exceptions in the sanctions . Funds from Iranian oil and gas sales, held in at Turkish banks like , were converted into and then used to purchase gold, which was physically transported to via flights or overland routes. Fictitious invoices and front companies in and facilitated the laundering, with payments routed through the U.S. by misrepresenting the nature of transfers to avoid detection by U.S. regulators. The operation relied on a network of shell entities and corrupt bank officials who approved large-scale withdrawals and transfers, often structuring them to stay below reporting thresholds or using circular invoicing to obscure origins. Zarrab coordinated with Iranian entities to supply billions in currency and , employing private jets for cash transport and leveraging personal relationships with Turkish ministers for protection and approvals. Bribes, totaling millions, were paid to officials to ensure compliance, including facilitation payments to executives and government figures. In terms of scale, the scheme enabled to access an estimated $13 billion in 2013-2014 alone through these channels, with Zarrab testifying to facilitating $25 billion to $37 billion over approximately six years from 2010 onward. At peak, held around $3 billion in Iranian funds managed by Zarrab's network, involving hundreds of millions per transaction stack in and movements. Zarrab personally profited between $100 million and $150 million, deriving a roughly 0.4% commission on laundered volumes after deducting bribes and operational costs. The overall operation represented one of the largest sanctions evasion efforts in recent history, processing massive sums through a combination of trade-based laundering and physical asset transfers.

Involvement of Turkish Government Officials

Reza Zarrab testified under oath in the U.S. District Court for the Southern District of New York in November 2017 that he paid bribes exceeding $50 million to Mehmet Zafer Çağlayan, Turkey's Minister of Economy from 2011 to 2013, to obtain official protection and facilitation for a scheme converting Iranian natural gas payments into gold via state-owned Halkbank, thereby evading U.S. sanctions imposed on Iran. These payments, often delivered in cash-filled bags or through proxies including Çağlayan's son, totaled approximately $60 million according to court records presented during the trial, in exchange for Çağlayan's directives to Halkbank executives to process fictitious food and medicine transactions masking the illicit fund conversions. Zarrab further detailed bribing Süleyman Aslan, Halkbank's general manager from 2005 to 2013, with $8.5 million to ignore compliance red flags and approve the sanctions-busting transfers, which involved laundering over $1 billion in Iranian funds between 2012 and 2013. The U.S. Department of indicted both Çağlayan and Aslan in September 2017 on charges of bribery, fraud, and sanctions violations, marking the first such prosecution of sitting and former Turkish cabinet-level officials tied to President . Zarrab's testimony also implicated higher echelons, claiming he discussed the scheme's continuation after tightened U.S. sanctions with head and then-Prime Minister Erdoğan through Erdoğan's son Bilal, receiving approval to proceed under the guise of humanitarian trade. He alleged additional influence peddling, including gifts to then-EU Minister Egemen Bağış, though primary facilitation stemmed from Çağlayan's ministry oversight of trade policy and banking regulations. These revelations echoed a December 2013 Turkish graft probe that initially arrested Zarrab alongside Çağlayan's associates for similar tied to gold , but the was quashed by Erdoğan's government, which dismissed involved prosecutors and judges as Gülenist infiltrators, highlighting domestic suppression of later corroborated in U.S. proceedings. Turkish officials, including Erdoğan, have rejected Zarrab's accounts as coerced falsehoods under his U.S. plea deal, asserting the transactions were legitimate trade and decrying the case as political interference. Zarrab's claims gained evidentiary weight from the January 2018 conviction of executive Mehmet Hakan Atilla on related charges, predicated in part on the network's role in enabling $20 billion in total sanctions evasion via .

Arrest and U.S. Prosecution

Capture and Initial Charges in 2016

On March 19, 2016, Reza Zarrab, a Turkish-Iranian businessman, was arrested by FBI agents at upon arrival from , . He was detained as part of an investigation into a multibillion-dollar scheme to evade U.S. sanctions on . Zarrab appeared in federal court in on , 2016, where a sealed was unsealed, charging him with conspiracy to commit , , and sanctions violations under the (IEEPA). The charges alleged that, starting around 2010, Zarrab orchestrated a network to launder over $1 billion in Iranian oil proceeds through U.S. financial institutions by disguising them as food and medicine exports, utilizing Turkish banks like and front companies. Two co-defendants, Iranian businessmen Hossein Jamshidy and Mohammad Reza Naajafzadeh, were also charged in the but remained . Prosecutors from the U.S. Attorney's Office for the Southern District of emphasized the scheme's reliance on fraudulent invoicing and sham transactions to access the U.S. banking system, circumventing sanctions imposed after Iran's 1979 revolution and tightened post-2010. Zarrab faced potential penalties including up to 20 years per count if convicted.

Pre-Trial Detention and Negotiations

Zarrab was arrested on March 14, 2016, at and subsequently transferred to the Metropolitan Correctional Center in , where he remained in without bond for over two years. Federal prosecutors, led by then-U.S. Attorney , opposed bail, arguing Zarrab posed a severe given his Turkish , extensive international ties, access to vast assets (including over $4.6 million donated to pro-government Turkish organizations since 2013), and prior concealment of foreign travel and holdings from pretrial services. In May 2016, Zarrab's defense team proposed a $50 million package secured by family assets, featuring private armed guards, electronic monitoring, and confinement to a self-financed luxury townhouse described as a "less onerous form of ." Prosecutors rejected this as a ploy by Zarrab's to evade standard custody while maintaining evasion capabilities, noting his scheme's implications. On June 2, 2016, U.S. District Judge denied the application after a hearing, ruling that no combination of conditions—including private security—could mitigate the or ensure compliance, given Zarrab's deceptive pretrial conduct and foreign support networks. During his detention, Zarrab engaged in within the facility, admitting in December 2017 court testimony to paying approximately $45,000 to guard Victor Casado for such as , a , and , which facilitated unauthorized communications. Casado, who exploited Zarrab's wealth for personal gain, was later convicted and sentenced to 20 months in prison for the scheme. Negotiations for a plea and cooperation deal commenced in August 2016, when Zarrab's lawyers approached prosecutors, but U.S. authorities declined amid ongoing investigations into related Turkish officials. In March 2017, Zarrab hired former Mayor and ex-Attorney General to pursue release via high-level diplomacy, including a proposed prisoner swap with (potentially exchanging Zarrab for detained American pastor ) and direct appeals to Turkish President during Giuliani's April 2017 meetings in . These efforts, which involved lobbying U.S. and Turkish government channels, collapsed without concessions from prosecutors, who prioritized Zarrab's potential as a witness against co-defendants like Halkbank executive Mehmet Hakan Atilla. By August 2017, intensified talks yielded a cooperation agreement, formalized in Zarrab's guilty on October 26, 2017, to six counts including sanctions evasion, , and —setting the stage for his testimony in Atilla's .

Plea Agreement Details

On October 26, 2017, Reza Zarrab, also known as Riza Sarraf, entered a guilty plea in the U.S. District Court for the Southern District of to seven counts stemming from his involvement in a scheme to evade U.S. sanctions against . These included to commit and wire fraud, two substantive counts of , to commit , two counts of , and to violate the (IEEPA) by conducting prohibited transactions with Iranian entities. The plea admitted Zarrab's role in using false documentation and U.S. financial institutions to disguise over $1 billion in Iranian funds as non-Iranian trade payments, primarily through gold exports and fictitious food imports between 2010 and 2015. The agreement constituted a cooperation deal with federal prosecutors, requiring Zarrab to provide "complete and truthful" information, participate in debriefings, produce documents, and testify at any trials or proceedings, including against co-defendants like Halkbank executive Mehmet Hakan Atilla. In return, the U.S. Attorney's Office agreed not to prosecute Zarrab for additional uncharged crimes related to the scheme, to recommend a downward departure from the U.S. Sentencing Guidelines based on his substantial assistance, and to inform the court of the full extent of his at sentencing. Breaches, such as providing false information, would void the non-prosecution protections and allow resumption of charges. Zarrab waived rights to his and (except for ineffective assistance claims) and agreed to forfeit assets tied to the offenses, potentially including proceeds estimated at up to $150 million from the scheme. The remained sealed until November 28, 2017, when it was unsealed ahead of Atilla's , confirming Zarrab's pivot from to key prosecution witness. Separately, Zarrab pleaded guilty that month to a charge for paying a U.S. $45,000 in 2016 to smuggle and a cell phone during , admitting this as part of his cooperation obligations.

Testimony and Trial Outcomes

Role as Prosecution Witness in Halkbank Case

In October 2017, Reza Zarrab pleaded guilty to multiple charges, including conspiracy to commit , , and sanctions violations, as part of a cooperation agreement with U.S. prosecutors that positioned him as a star witness in the trial of Mehmet Hakan Atilla, 's former deputy general manager. Zarrab's testimony began on November 28, 2017, in the U.S. District Court for the Southern District of , spanning approximately seven days and forming the core of the prosecution's case against Atilla, who was accused of facilitating the laundering of roughly $20 billion in Iranian funds through deceptive practices at to circumvent U.S. sanctions. Zarrab detailed how, starting around 2011, he collaborated with Atilla to disguise Iranian oil revenues held at as legitimate humanitarian food exports or transactions, using false invoices, front companies, and fictitious documentation to access U.S. financial networks and convert funds into for out of Turkey. He testified that Atilla personally approved these mechanisms, including the creation of sham entities to misrepresent transactions and evade U.S. Treasury scrutiny, after Zarrab encountered initial resistance from other executives. Zarrab also described bribing Turkish Economy Minister Zafer Çağlayan with at least $50 million in cash, , and luxury items to secure governmental support for the scheme, claiming these payments enabled high-level interference to protect 's involvement. During cross-examination, defense attorneys challenged Zarrab's reliability, highlighting his prior false statements to U.S. authorities, his history of deception in the scheme, and the incentives of his plea deal, which promised leniency in exchange for truthful testimony against Atilla and others. Zarrab admitted to lying under before his cooperation but maintained the accuracy of his account, which included allegations of awareness or approval from then-Prime Minister Recep Tayyip Erdogan, though he clarified these stemmed from interpreted meetings rather than explicit directives. Zarrab's evidence was pivotal in Atilla's on January 2, 2018, on five of six counts, including and sanctions evasion, with the crediting his descriptions of the operational details despite credibility attacks; Atilla was sentenced to 32 months in prison, later released early and deported in 2019. His cooperation extended beyond the Atilla trial, informing the 2019 indictment of itself for participating in the multibillion-dollar evasion, though Zarrab did not testify in that corporate proceeding.

Revelations on Corruption and Bribes

During his testimony in the U.S. District Court for the Southern District of on November 29, 2017, in the trial of United States v. Mehmet Hakan Atilla, Reza Zarrab detailed a scheme involving multimillion-dollar bribes paid to high-ranking Turkish officials to enable the evasion of U.S. sanctions on through . Zarrab stated that he personally delivered over $50 million in cash bribes to former Turkish Economy Minister Zafer Çağlayan between 2012 and 2013, often in suitcases transported via private couriers, to secure official approval and oversight for laundering Iranian oil revenues disguised as humanitarian trade and gold transactions. Prosecutors presented a Zarrab identified as a record of partial payments to Çağlayan, totaling tens of millions of dollars, which he claimed were necessary to influence regulatory decisions and prevent interference with the operations. Zarrab further testified to bribing former Halkbank General Manager Süleyman with approximately $3 million, including cash concealed within luxury watches such as a diamond-encrusted , to facilitate the bank's role in converting Iranian funds held in restricted accounts into gold for export. These payments, he asserted, ensured Aslan's cooperation in structuring transactions that bypassed U.S. financial monitoring, with bribes drawn from commissions Zarrab earned—estimated at $150 million overall from the scheme. Zarrab also recounted additional corruption during Turkey's graft investigations, admitting he paid bribes to prison officials and intermediaries to secure his release after initial , including a $45,000 payment arranged through a . The revelations corroborated elements of Turkey's 2013 corruption scandal, where wiretaps had previously implicated Çağlayan and in similar graft, but Zarrab's U.S. provided sworn details under , contributing to Atilla's eventual on sanctions violations. Turkish officials, including President , dismissed the claims as fabrications by a discredited witness and part of a U.S.-backed plot linked to Fethullah Gülen's movement, though no counter-evidence was presented in . Zarrab's account emphasized that the bribes were essential to sustaining the multibillion-dollar operation, with Çağlayan exerting direct pressure on executives to prioritize the scheme despite U.S. warnings.

Conviction of Co-Defendants and Broader Implications

Mehmet Hakan Atilla, the former deputy general manager of Türkiye Halk Bankası A.Ş. (), was convicted on January 3, 2018, by a federal jury in the U.S. District Court for the Southern District of on five counts related to the sanctions evasion scheme, including conspiracy to defraud the , conspiracy to violate the (IEEPA), , and two counts of conspiracy to commit . He was acquitted on two counts of violating IEEPA sanctions reporting requirements. Atilla was sentenced on May 16, 2018, to 32 months in prison, followed by three years of supervised release, and ordered to pay a $100,000 fine; he was released in July 2019 after serving approximately 28 months and returned to . The U.S. Court of Appeals for the Second Circuit upheld Atilla's convictions in July 2020, affirming the applicability of statutes to sanctions evasion schemes involving the U.S. financial system. Other initial co-defendants, such as former Turkish Economy Minister Zafer Çağlayan and former Halkbank Chairman Süleyman Aslan, faced U.S. charges in absentia for related conspiracies including and but have not been extradited or tried, remaining in where they deny involvement. itself was indicted in October 2019 on charges of conspiracy to violate IEEPA, , and for its role in laundering over $1 billion in Iranian oil proceeds, but as of October 2024, the case remains pending after the Second Circuit rejected claims of , allowing prosecution to proceed. The convictions and Zarrab's highlighted systemic within Turkish institutions, revealing bribes paid to senior officials—including millions to Çağlayan—to facilitate the scheme, which undermined 's official denials of state involvement. This exposure fueled domestic political backlash in , where President labeled Atilla's verdict a "scandalous decision" and accused the U.S. of political motivations, exacerbating bilateral tensions already strained by issues like the detention of U.S. pastor , whom arrested partly in retaliation. Geopolitically, the case intensified U.S.- frictions, prompting Erdoğan to dispatch a delegation—including his son-in-law and the finance minister—to negotiate Zarrab's release in 2017, while ramped up anti-U.S. rhetoric and explored sanctions on officials. Legally, it established precedents for extraterritorial enforcement of U.S. sanctions via statutes against foreign actors accessing U.S. banks, deterring similar evasion tactics and signaling risks to state-linked entities. The ongoing prosecution underscores persistent challenges in holding sovereign-affiliated institutions accountable, potentially influencing future U.S. sanctions compliance globally.

Post-Prosecution Life

Release on Bail and Relocation to the U.S.

Following his guilty plea on October 26, 2017, and subsequent testimony as a key prosecution witness in the trial of former deputy CEO Mehmet Hakan Atilla, Reza Zarrab was released from federal custody on in 2018 as part of his cooperation agreement with U.S. authorities. This release, detailed in court documents that surfaced publicly in November 2021, allowed Zarrab to avoid the lengthy prison sentence—potentially up to 130 years—he faced for charges including , , and sanctions evasion. To secure his release, Zarrab signed a $5 million , posting $100,000 in cash to the U.S. for the Southern of as collateral. conditions permitted him to reside and travel freely between specified locations in and without requiring prior approval for movements within those areas. Zarrab subsequently relocated to , , establishing a residence there and leveraging his cooperation status to remain in the United States rather than face as a non-citizen convicted felon. This arrangement followed the January 3, 2018, conviction of Atilla on related sanctions-evasion charges, after which Zarrab's ongoing utility to prosecutors in broader investigations, including against , contributed to his continued presence under supervised release. Turkish officials expressed concerns over the lack of notification regarding his post-custody status, viewing it as a point of tension in U.S.- relations.

Asset Forfeiture and Financial Settlements

As part of his October 20, 2017, plea agreement with U.S. authorities in the Southern District of New York, Reza Zarrab (also known as Rıza Sarraf) consented to the criminal forfeiture of any specific property constituting or derived from proceeds obtained directly or indirectly from offenses including conspiracy, , and sanctions evasion. This provision aligned with standard federal requirements under 18 U.S.C. §§ 981 and 982, targeting assets linked to the scheme through which Zarrab admitted profiting approximately $150 million by facilitating Iran's access to over $20 billion in restricted funds via Turkish banks and global transactions from 2010 to 2015. The agreement stipulated that forfeiture would occur in addition to any prison term or fine, with the government retaining discretion to pursue substitute assets up to the value of unrecoverable proceeds if necessary. No specific assets or monetary amount have been publicly detailed as forfeited by Zarrab to U.S. authorities as of late 2025, as his sentencing remains deferred pending full cooperation and resolution of related cases, including the prosecution. Prosecutors have indicated that final forfeiture determinations would follow sentencing, potentially encompassing accounts, , or other holdings traceable to illicit gains, though Zarrab's relocation to the U.S. on in 2019 limited immediate against overseas properties. The exposed no separate financial settlements between Zarrab and private entities like banks, but it obligated him to provide restitution if ordered by the court, with potential fines up to $50 million across counts. In parallel, Turkish authorities seized Zarrab's domestic assets—including companies, vehicles, and —on December 1, 2017, amid investigations into his prior ties, though these actions were independent of U.S. proceedings and aimed at recovering bribe-related funds estimated at over $59 million paid to Turkish officials. U.S. officials have not pursued joint recovery from these seizures, prioritizing direct forfeiture from scheme-derived U.S.-accessible assets. Zarrab's cooperation has deferred punitive financial impositions, allowing retention of personal wealth reported in the hundreds of millions, subject to future .

Subsequent Business and Legal Entanglements

Following his release and relocation to in 2018, Zarrab established new business interests centered on activities. In September 2020, he acquired a property in , for $1.2 million through Pegasus Equestrian Davie, Inc., which was later renamed Next Level Performance Center, Inc., a commercial stable complex for horses; Zarrab served as president under the alias . He invested in high-value horses, including Sonata MF purchased for approximately $300,000, which competed successfully in events, such as a championship win in August 2021. These ventures were financed in part by international wire transfers, including a $78,000 transfer from in July 2020 linked to associate Suat Aktas. Zarrab maintained connections to former associates from his pre-plea network, including Amir Fathrazi and Şems Al-Bazz, as well as attorney Erich C. Ferrari, whose and he reportedly used. He resided in a $3.65 million in Miami's Park Grove development, acquired via a LLC in 2018, and temporarily in a Davie residence from May 2020 to February 2021. On May 13, 2021, he reported potential incidents to local , citing security concerns. These activities drew investigative scrutiny in late 2021 from outlets including the Organized Crime and Corruption Reporting Project (OCCRP), , and Law&Crime, which highlighted risks of violating his 2017 plea agreement through sustained ties to questionable networks and unexplained foreign funding; breaching terms could expose him to a potential 130-year sentence. U.S. authorities modified his supervised release in 2018 to permit travel within but have not publicly confirmed ongoing probes into his post-release conduct as of 2021. No new criminal charges have been filed against him in connection with these matters through 2025.

Personal Life and Controversies

Family and Relationships

Reza Zarrab was born in 1983 in , , to Hossein Zarrab, a wealthy Iranian businessman involved in and trading of Azerbaijani origin, with the family relocating to during his early childhood. In 2010, Zarrab married Turkish singer , a union that lasted 11 years and produced one daughter, Alara Zarrab. The couple divorced in May 2021, with Gündeş citing fundamental damage to the marriage institution as grounds for the separation following her filing in April of that year. Zarrab remarried on January 16, 2025, in a ceremony at the in , , to Dilara Altıntop, a former Turkish national swimmer and executive assistant based in ; the marriage had been formalized approximately two months earlier. The event featured a three-day celebration attended by around 150 guests, including business figures and celebrities, under heightened security measures.

Allegations of Personal Misconduct

In December 2017, while testifying as a witness in the U.S. federal trial against Halkbank executive Mehmet Hakan Atilla, Zarrab was sued in a civil complaint by a fellow inmate at the Metropolitan Correctional Center in Manhattan, who accused him of raping the plaintiff, a man in his sixties, during their time sharing a cell. The lawsuit alleged that Zarrab committed the assault and inspired complaints from other inmates about his behavior, though the U.S. Bureau of Prisons did not publicly respond to inquiries at the time. Zarrab denied the accusations, describing them as "fiction" in a court filing, and no criminal charges resulted from the claim, with the civil suit's outcome remaining unresolved in public records. Zarrab's personal life drew tabloid scrutiny over alleged during his marriage to Turkish singer , whom he wed in 2010 and with whom he has one daughter. filed for in September 2016 shortly after Zarrab's arrest in on sanctions-evasion charges, citing tied to the strains of his legal troubles. The couple briefly reconciled, but refiled in April 2021, stating the marriage had been "fundamentally damaged," leading to a finalized that May without public disclosure of or custody details. Media reports, primarily from Turkish entertainment outlets, alleged that Zarrab engaged in an extramarital affair with fellow singer while still married to Gündeş, with claims resurfacing in tabloid coverage as a factor in the marital breakdown. These unverified rumors, often amplified by figures like television personality Seren Serengil who claimed to possess evidence, prompted to file lawsuits against accusers in 2023, denying any relationship. Such allegations, lacking corroboration from primary legal or investigative sources, reflect sensationalized coverage in Turkish rather than substantiated misconduct.

Security Threats and Assassination Plots

During his testimony in the U.S. District Court for the Southern District of on December 7, 2017, Reza Zarrab reported receiving explicit death threats from a cellmate while incarcerated at the Metropolitan Correctional Center in . The cellmate, identified in court as having ties to , warned Zarrab that he would be killed if he continued cooperating with federal prosecutors by testifying against Mehmet Hakan Atilla, the former deputy general manager of Turkey's . Zarrab stated that the threats began after his plea deal became known within the prison population, escalating to direct intimidation during shared cell time. These threats were contextualized by Zarrab's high-profile role as a cooperating , which exposed a multibillion-dollar scheme to evade U.S. sanctions on and implicated Turkish ministers and officials close to President . Prosecutors argued the intimidation stemmed from Zarrab's disclosures, including bribes paid to Turkish officials, heightening his vulnerability in a facility housing inmates with potential connections to foreign interests affected by the case. U.S. authorities responded by relocating Zarrab to , though specifics of additional security measures remained . No formal charges arose from the reported threats, and the cellmate was not publicly identified or prosecuted in connection with the incident. Zarrab's account aligned with broader risks for defectors in sanctions-related cases, but independent verification of the cellmate's motives or affiliations was limited to testimony. Post-trial, following his release on in 2019 and relocation under , no further public incidents of plots or targeted threats against Zarrab have been documented in records or federal disclosures.

References

  1. [1]
    Reza Zarrab - FDD
    Reza Zarrab, the Turkey-based ringleader of Iran's sanctions-evasion network who laundered over $20 billion in the biggest sanctions-evasion scheme in recent ...Missing: biography facts
  2. [2]
    Notorious Money Launderer Reza Zarrab's Lavish Life and New ...
    Dec 7, 2021 · Zarrab later admitted in court to helping the Islamic Republic of Iran evade economic sanctions through a money-laundering scheme that U.S. ...Missing: biography facts
  3. [3]
    Frequently Asked Questions: Who Is Reza Zarrab? - OCCRP
    Apr 27, 2021 · Born in Tehran in 1983, the Turkish-Iranian businessman was one of the 21st century's most prolific money launderers before his 2016 arrest by ...Missing: nationality | Show results with:nationality
  4. [4]
    Reza Zarrab Explains Whom He Worked with to By-Pass US ... - Bianet
    Nov 30, 2017 · Zarrab said that he was born in Iran, has been living in Turkey since 1.5 years old, lived two years in Dubai and is a citizen of Turkey, FYRON ...Missing: nationality | Show results with:nationality
  5. [5]
    Turkish Banker Convicted of Conspiring to Evade U.S. Sanctions ...
    Jan 3, 2018 · Atilla was convicted of conspiracies to defraud the United States, to violate the IEEPA, to commit bank fraud and to commit money laundering, as ...Missing: biography | Show results with:biography
  6. [6]
    US Treasury Identifies Channels Iran Has Used to Circumvent ...
    Nov 14, 2018 · Reza Zarrab, an Iranian gold trader, orchestrated the largest sanctions-evasion scheme in modern history by utilizing Halkbank, the Turkish ...Missing: biography | Show results with:biography<|separator|>
  7. [7]
    Gold Trader Reza Zarrab Agrees To Cooperate With U.S. In ... - NPR
    Nov 29, 2017 · Turkish bankers and gold traders stand accused of a conspiracy to evade U.S. sanctions on Iran. The scheme was purportedly worth hundreds of ...Missing: biography facts
  8. [8]
    Reza Zarrab, The Star Witness Unnerving Ankara - NDTV
    Dec 3, 2017 · Born in Iran and brought to Turkey as a child, Zarrab testified that he began working in the tea trade at just 16, before working for two years ...<|separator|>
  9. [9]
    The Case of Reza Zarrab - Bipartisan Policy Center
    Nov 27, 2017 · Zarrab was arrested in March 2016 on charges of bank fraud, money laundering, and helping the Iranian government evade U.S. sanctions.Missing: biography | Show results with:biography
  10. [10]
    Iranian-Turkish Businessman Seeks Bond in Sanctions Evasion Case
    May 19, 2016 · The filings say Zarrab was born in Iran's capital, Tehran, but lived most of his life in Turkey where he began work in gold and commodities ...
  11. [11]
    Notorious money launderer Reza Zarrab's lavish life in Miami
    Dec 7, 2021 · Facing 130 years in prison, infamous Turkish-Iranian money launderer Reza Zarrab took a plea deal in 2017 agreeing to testify in US courts.Missing: nationality | Show results with:nationality
  12. [12]
    https://www.meforum.org/mef-online/u-s-top-courts-halkbank-ruling-could-spell-trouble-for-turkeys-erdogan-over-iran-sanctions-scheme
  13. [13]
    Rıza Sarraf kimdir? - Yeni Akit
    Rıza Sarraf, 12 Eylül 1983 tarihinde Tebriz-İran'da dünyaya geldi. Asıl adı Reza Zarrab'tır. 1996 senesinde kurulan Nafees Exchange ve Al Salam Center Exchange ...Missing: doğum | Show results with:doğum
  14. [14]
    Reza Zarrab Kimdir, Ne İş Yapıyor? - Onedio
    Jan 18, 2025 · Reza Zarrab, 12 Eylül 1983 tarihinde İran'ın Tebriz kentinde dünyaya geldi. Türkiye'de yaşadığı dönemde ismini Türkçeleştiren Zarrab, ''Rıza ...Missing: aile | Show results with:aile
  15. [15]
    Reza Zarrab Hayatı ve Biyografisi - Haberler
    12 Eylül 1983'te Tebriz'de dünyaya geldi. Yaşamını Dubai'de sürdüren İran Azerisi bir aileye mensuptur. Reza Zarrab olan ismini Rıza Sarraf olarak Türkçeleş ...Missing: aile | Show results with:aile
  16. [16]
    Zarrab, the golden chain between Turkey & Iran - 19/02/2014
    Feb 19, 2014 · Born in Tabriz, Iran in 1984, Reza Zarrab grew up in a family of currency traders of Azeri origin: his father, Hossein Zarrab, posses several ...Missing: background | Show results with:background
  17. [17]
    [PDF] v - REZA ZARRAB, a/k/a “Riza Sarraf,” - VOA
    May 25, 2016 · Reza Zarrab. (0:00:46.20). My father, has a permanent residence in. Turkey since 1976 and I even though I was born on 1983, I have been living ...<|separator|>
  18. [18]
    'The Government Is in on It': An Insider's Account of the Reza Zarrab ...
    Sep 20, 2020 · Born in Tehran in 1983, Zarrab grew up and was educated through high school in Istanbul, where his family had moved when he was a baby. The ...Missing: nationality | Show results with:nationality
  19. [19]
    Reza Zarrab'ın sır ailesi - Gazete Duvar
    Dec 16, 2017 · Zarrab'ın annesi de oldukça dindar biri. Sade bir ev kadını. Ancak Reza Zarrab'ın ablası lükse meraklı biridir. Özellikle doğum günü gibi ...
  20. [20]
    Who made Zarrab a Turkish citizen? - Hürriyet Daily News
    Jun 5, 2016 · According to the petition submitted to the court by Zarrab's lawyer, Benjamin Brafman, Zarrab was born in Tehran in 1983 and his family moved to ...
  21. [21]
    The Odyssey of a Turkish Trader Now Spilling His Secrets in U.S.
    Nov 28, 2017 · When Reza moved to Dubai with his family at the age of 16, he opened a tea-trading business with three employees. Three years later, back in ...
  22. [22]
    By Suitcase and by Wire: How Reza Zarrab Smuggled Russia's Money
    Sep 20, 2020 · A new investigation by OCCRP and Courthouse News Service shows that Russia was central to Zarrab's money network even before he began working for Iran.Missing: entry | Show results with:entry
  23. [23]
    Reza Zarrab: The Money Launderer Who Wanted to Be Jacques ...
    Sep 20, 2020 · The fact that Zarrab would visit the United States after his involvement in Iran sanctions evasion money laundering became public through a 2013 ...Missing: biography | Show results with:biography
  24. [24]
    Turkish National Arrested for Conspiring to Evade U.S. Sanctions ...
    Mar 21, 2016 · An indictment was unsealed in the Southern District of New York against Reza Zarrab, aka Riza Sarraf, 33, a resident of Turkey and dual citizen ...Missing: gold | Show results with:gold
  25. [25]
    Special Report - Golden Loophole: How an alleged Turkish crime ...
    Apr 29, 2014 · The report presents a wealthy young businessman of Iranian descent named Reza Zarrab as the ringleader. Zarrab grew up in Turkey, holds ...
  26. [26]
    Why Turkey cares about the trial of Reza Zarrab - Brookings Institution
    Nov 22, 2017 · Zarrab allegedly shipped gold to Iran in exchange for oil and natural gas, the “gas for gold” scheme; this gold helped Iran prop up its ailing ...Missing: expansion | Show results with:expansion
  27. [27]
    Reza Zarrab Testifies That He Bribed Turkish Minister
    Nov 29, 2017 · Zarrab almost resembled a business-school lecturer, sketching lines and boxes with colored markers and explaining as he went. “In other ...Missing: background | Show results with:background
  28. [28]
    Reza Zarrab: Gold trader's US legal saga grips Turkey - BBC
    Nov 29, 2017 · ... corruption investigation, along with the sons of two cabinet ministers. ... bribing senior ministers to cover it up. The alleged "gifts ...
  29. [29]
    US Trial: Key Witness Says He Bribed Turkish Minister | OCCRP
    Nov 30, 2017 · Zarrab admitted to bribing former Turkish Economy Minister, Zafer ... Erdogan maintained that the 2013 corruption investigation had ...
  30. [30]
    Turkish-Iranian gold trader says he paid bribes – DW – 11/30/2017
    Nov 30, 2017 · ... bribes ... Zarrab was at the center of a December 2013 corruption scandal in Turkey that almost brought down then Prime Minister Erdogan's ...
  31. [31]
    Businessman at center of graft scandal in Turkey gave first lady a ...
    Sep 19, 2022 · ... Reza Zarrab ... corruption investigation that shook the country in December 2013. He was accused of paying large bribes to Turkish ministers ...
  32. [32]
    'The Government Is In on It': An Insider's Account of the Reza Zarrab ...
    Sep 20, 2020 · In testimony that forever altered U.S.-Turkish relations, Zarrab said Turkish President Recep Tayyip Erdoğan ordered the illicit trade. Zarrab ...
  33. [33]
    Former Turkish Minister Of The Economy, Former General Manager ...
    Sep 6, 2017 · ... Evade U.S. Sanctions Against Iran And Other Offenses. Wednesday ... MOHAMMAD ZARRAB, 39, is REZA ZARRAB's brother and is a resident of ...Missing: biography | Show results with:biography
  34. [34]
    U.S. charges former Turkish minister with Iran sanctions evasion
    Sep 7, 2017 · Erdogan has said U.S. authorities had "ulterior motives" in charging Zarrab, who has pleaded not guilty. Prosecutors have now charged Caglayan ...
  35. [35]
    Turkish Bank Charged in Manhattan Federal Court for Its ...
    Oct 15, 2019 · On Oct. 26, 2017, Reza Zarrab pled guilty to the seven counts with which he was charged. On Jan. 3, 2018, a jury convicted former Halkbank ...
  36. [36]
    Turkish Banker Arrested For Conspiring To Evade U.S. Sanctions ...
    Mar 28, 2017 · Mehmet Hakan Atilla, a Turkish banker, participated in a years-long scheme to violate American sanctions laws by helping Reza Zarrab, a major gold trader.
  37. [37]
    The Biggest Sanctions-Evasion Scheme in Recent History
    Jan 4, 2018 · Zarrab was the swashbuckling gold trader who had helped Iran evade sanctions with the help of Turkish banks in 2013 and 2014, yielding Iran an estimated $13 ...Missing: biography facts
  38. [38]
    Gold trader says he made 'maybe $150 million' from plot to beat Iran ...
    Dec 7, 2017 · An Iranian-Turkish gold trader admitted in a US court that he made “maybe $150 million” by helping Iran dodge international sanctions.Missing: trade expansion
  39. [39]
    Turkish bank charged in multibillion-dollar sanctions-busting scheme
    Oct 15, 2019 · The charges against Halkbank are linked to a previous case involving Reza Zarrab, a Turkish banker who was arrested in March for evading U.S. ...
  40. [40]
    Witness In Iran Sanctions Case Tells U.S. Court He Bribed Turkish ...
    Nov 29, 2017 · ... Zarrab's accomplice in a conspiracy to evade Iran sanctions and bribe public officials. Zarrab, 34, who has pled guilty to fraud charges in ...Missing: involvement | Show results with:involvement
  41. [41]
    Major Turkish Bank Prosecuted in Unprecedented Iran Sanctions ...
    Mar 31, 2020 · The four-year legal saga began in 2016 with the arrest and prosecution of Reza Zarrab, an Iranian-Turkish businessman. Zarrab masterminded a ...<|separator|>
  42. [42]
    Erdogan Helped Turks Evade Iran Sanctions, Reza Zarrab Says
    Nov 30, 2017 · Mr. Zarrab's testimony marked the first time Mr. Erdogan has been implicated in the alleged sanctions busting, which first surfaced when the ...<|control11|><|separator|>
  43. [43]
    Erdogan helped Iran evade US sanctions, witness claims | CNN
    Dec 1, 2017 · On Thursday, Zarrab testified in federal court about Erdogan's alleged role in Zarrab's scheme, which involved laundering funds from Iranian ...<|control11|><|separator|>
  44. [44]
    Conspiracy to Spy Novel: The Reza Zarrab Case and US-Turkey ...
    Jan 29, 2018 · Back in 2013, Turkish authorities arrested Zarrab during a corruption and bribery investigation involving illegal gold transfers and fake ...
  45. [45]
    Reza Zarrab case: Turkey attacks US justice system - BBC
    Nov 30, 2017 · ... fraud. Gold trader's US legal saga grips Turkey. In court, Mr Zarrab said he had paid Zafer Caglayan, then Turkey's economy minister, bribes ...
  46. [46]
    Manhattan U.S. Attorney Announces Arrest Of Turkish National For ...
    Mar 21, 2016 · ZARRAB was arrested on March 19, 2016, and was presented in federal court in Miami, Florida, today. JAMSHIDY and NAJAFZADEH remain at large. ...Missing: date | Show results with:date
  47. [47]
    [PDF] PREET BHARARA UnitedStatesAttorneyfor the SouthernDistrictof ...
    May 25, 2016 · Defendant. GOVERNMENT'S MEMORANDUM OF LAW IN OPPOSITION. TO DEFENDANT REZA ZARRAB'S MOTION FOR BAIL. PREET BHARARA. UnitedStatesAttorneyfor the.Missing: timeline | Show results with:timeline
  48. [48]
    Judge Denies Reza Zarrab's Bail Request for Self-Financed House ...
    Jun 16, 2016 · Judge Berman said prosecutors had shown that Mr. Zarrab, 32, posed a risk of flight and that no conditions, “including privately funded armed ...
  49. [49]
    Cushy Bail Package Nixed in Iran Sanctions Case
    In fact, Berman said, Zarrab had not actually proposed pretrial release at all, but rather a "less onerous form of detention available only to the wealthy." " ...
  50. [50]
    [PDF] v - REZA ZARRAB, a/k/a “Riza Sarraf,” - VOA
    Jun 2, 2016 · Accordingly, the defendant's motion for bail should be denied. I. Zarrab Lied to Pretrial Services, Concealing Assets and Foreign Travel, and ...<|control11|><|separator|>
  51. [51]
    Gold trader Reza Zarrab says he paid $45,000 bribe to U.S. prison ...
    Dec 6, 2017 · Reza Zerrab says he made up to $150 million in commissions from a sanction-busting scheme before he was arrested in the U.S..Missing: pre- detention hearings
  52. [52]
    A Jail Guard Smuggled In Contraband for a Turkish Gold Trader ...
    Jan 11, 2019 · Now He's Going to Prison Himself. https://www.nytimes.com/2019/01/11/nyregion/victor-casado-zarrab-bribe.html ... bribes to Turkish officials.Missing: detention conditions
  53. [53]
    Giuliani Was Hired to Negotiate Turk's Iran Sanctions Case, Letters ...
    Mar 30, 2017 · The lawyer for Reza Zarrab, a Turkish gold trader jailed in New York on charges of violating United States sanctions on Iran, sent a letter to a judge on ...
  54. [54]
    Why Giuliani Held a Secret Meeting With Turkey's Leader
    Apr 20, 2017 · Zarrab was detained by the Turkish authorities in a wide-ranging corruption investigation of businessmen with close ties to Mr. Erdogan, who was ...
  55. [55]
    Did Giuliani Try to Cut Deal Between U.S. and Turkey for Iranian?
    Mar 31, 2017 · Prosecutors say Giuliani and Michael Mukasey wanted to negotiate with the U.S. and Turkish governments for a client accused of evading Iran ...
  56. [56]
    Turkish gold trader Reza Zarrab makes plea deal in Iran sanctions ...
    Nov 28, 2017 · Zarrab's plea was unsealed Tuesday afternoon. He pleaded guilty on Oct. 26 to all six counts of fraud, money laundering and sanctions violations ...Missing: negotiations | Show results with:negotiations
  57. [57]
    Turkish gold trader becomes U.S. witness in Iran sanctions case
    Nov 28, 2017 · A Turkish-Iranian gold trader has pleaded guilty to conspiring to evade U.S. sanctions against Iran and will testify against a Turkish bank ...Missing: scale | Show results with:scale
  58. [58]
    Zarrab's Take From Iran Sanctions Plot? 'Maybe $150 Million,' He Says
    Dec 5, 2017 · Reza Zarrab, under cross-examination by the defense, admitted that he had made a fortune helping Turkey evade U.S.-imposed sanctions on ...Missing: mechanics | Show results with:mechanics
  59. [59]
    Turkish Banker Convicted Of Conspiring To Evade U.S. Sanctions ...
    Jan 3, 2018 · Mehmet Hakan Atilla was found guilty today of conspiring with others, including Reza Zarrab, a/k/a “Riza Sarraf,” who previously pled guilty to evading US ...Missing: testimony Halkbank details
  60. [60]
    Turkish Bank Charged In Manhattan Federal Court For Its ...
    Oct 15, 2019 · On October 26, 2017, Reza Zarrab pled guilty to the seven counts with which he was charged. On January 3, 2018, a jury convicted former Halkbank ...Missing: testimony details
  61. [61]
    Reza Zarrab, Turk at Center of Iran Sanctions Case, Is Helping ...
    Nov 28, 2017 · The gold trader, arrested in 2016, pleaded guilty in a case that has strained relations between the United States and Turkey.Missing: negotiations | Show results with:negotiations
  62. [62]
    Banker From Turkey Is Convicted in U.S. Over Plot to Evade Iran ...
    Jan 3, 2018 · In testimony over seven days, Mr. Zarrab described an illicit operation that relied on false documents and front companies.Missing: details | Show results with:details
  63. [63]
    Turkish gold trader details money laundering scheme for Iran - Reuters
    Nov 29, 2017 · U.S. prosecutors have charged nine people in the case, although only Zarrab, 34, and Atilla, 47, have been arrested by U.S. authorities.
  64. [64]
    Turkish Businessman Describes $50M Bribe at Sanctions Trial - VOA
    Nov 29, 2017 · Reza Zarrab testifies in the trial of Turkish banker Mehmet ... Turkish Businessman Describes $50M Bribe at Sanctions Trial. November ...<|control11|><|separator|>
  65. [65]
    United States v. Atilla, No. 18-1589 (2d Cir. 2020) - Justia Law
    Jul 20, 2020 · At the center of the scheme was Atilla's codefendant, Reza Zarrab ... Defense counsel also crossed Zarrab on whether his cooperation agreement ...
  66. [66]
    Turkish gold trader implicates Erdogan in Iran money laundering
    Dec 1, 2017 · Over two days of testimony, Zarrab has told jurors that he helped Iran use funds deposited at Halkbank to buy gold, which was smuggled to Dubai ...
  67. [67]
    Turkey's Halkbank pleads not guilty to U.S. criminal charges | Reuters
    Mar 31, 2020 · Turkey's state-owned Halkbank on Tuesday pleaded not guilty to criminal charges in a federal court in Manhattan that it helped Iran evade ...
  68. [68]
    Reza Zarrab takes the stand in trial straining U.S.-Turkish ties
    Nov 29, 2017 · Prosecutors showed jurors a tidy spreadsheet that Zarrab said was a partial list of bribes he paid to Caglayan, who is under indictment but not ...Missing: relationship | Show results with:relationship
  69. [69]
    Turkish Banker Mehmet Hakan Atilla Sentenced To 32 Months For ...
    May 16, 2018 · Mehmet Hakan Atilla was sentenced today to 32 months in prison for his participation in a scheme to violate US economic sanctions imposed on the Islamic ...
  70. [70]
    United States v. Zarrab (Turkiye Halk Bankasi), No. 20-3499 (2d Cir ...
    Oct 22, 2024 · United States v. Zarrab (Turkiye Halk Bankasi), No. 20-3499 (2d Cir. 2024) case opinion from the US Court of Appeals for the Second Circuit.
  71. [71]
    COLUMN: Sanctions and Corruption: The Halkbank Case as a Test ...
    Sep 29, 2025 · Turkish police, initially investigating a drug trafficking network in 2008, uncovered financial ties to Reza Zarrab, an Iranian-Turkish gold ...
  72. [72]
    'Scandalous Decision': How A Turkish Banker's Conviction In U.S. Is ...
    Jan 4, 2018 · Atilla "used his high rank at a Turkish bank to disguise the transactions as humanitarian food payments and deceive American officials, but now, ...
  73. [73]
    [PDF] Second-Circuit-Affirms-Bank-Fraud-Convictions-in-Sanctions ...
    Jul 1, 2020 · ... first unsealed in March 2016 when Atilla's co-defendant Reza. Zarrab was arrested on identical charges. Zarrab initially contested the charges.
  74. [74]
    Halkbank Faces Prosecution: U.S. Court of Appeals Denies ...
    Oct 25, 2024 · Halkbank was indicted in 2019 for allegedly conspiring to evade U.S. sanctions against Iran, along with related money laundering and bank fraud ...Missing: outcomes | Show results with:outcomes
  75. [75]
    Newly surfaced documents reveal gold trader Zarrab freed on bail in ...
    Nov 2, 2021 · Zarrab was arrested in Miami in 2016 and charged with laundering billions of dollars in a big sanctions-evasion scheme. After he cooperated with ...
  76. [76]
    Iranian-Turkish gold trader released on bail by US gov't in 2018 ...
    Nov 3, 2021 · Zarrab signed a $5 million bail bond and secured it with $100,000 to the federal court in order to be released on bail, documents further showed ...Missing: hearings | Show results with:hearings
  77. [77]
    Reza Zarrab turns out to be released on bail in the US - Bianet
    Nov 3, 2021 · He was arrested on March 21. He was charged with violating sanctions on Iran, money laundering, "conspiracy against the US," and defrauding US ...
  78. [78]
    Turkey issues diplomatic note to US over gold trader Zarrab's ...
    Nov 15, 2017 · The ministry noted that Zarrab was recently threatened in a federal holding facility, which necessitated moving him to a different facility. It ...
  79. [79]
    [PDF] United States Attorney - Southern District of New York
    Oct 20, 2017 · Southern District of New York ("this Office") will accept a guilty plea from Reza Zarrab, a/k/a. "Riza Sarraf" (the "defendant") to a ...
  80. [80]
    Reza Zarrab case: Turkey seizes assets of trader in US trial - BBC
    Dec 1, 2017 · Turkish prosecutors have ordered the seizure of assets of a Turkish-Iranian gold trader who is testifying in a US trial of a banker accused ...Missing: trade expansion
  81. [81]
    Turkey Seizes Assets of Reza Zarrab, Witness in Sanctions-Evasion ...
    Dec 1, 2017 · Turkish prosecutors on Friday ordered the seizure of assets belonging to an Iranian-Turk gold trader who has been a key witness in the ...Missing: forfeiture settlements
  82. [82]
    Commercial real estate attracts money laundering, report finds
    May 1, 2024 · Zarrab, who was living in Miami's Coconut Grove in 2021, did not respond to requests for comment at the time from the Herald and OCCRP. A lack ...
  83. [83]
    Reza Zarrab: The Money Launderer Who Wanted To Be Jacques ...
    Sep 20, 2020 · Hours later, Zarrab, then 33 years old, stepped off a plane and was handcuffed by FBI agents at Miami International Airport. His diving ...
  84. [84]
    Former sanctions case figure Zarrab weds in Miami spectacle
    Jan 20, 2025 · His previous marriage to Turkish pop star Ebru Gundes ended in 2021 after 11 years. That relationship, which produced a daughter named Alara, ...
  85. [85]
    Turkish singer Ebru Gündeş, gold trader Reza Zarrab complete ...
    May 7, 2021 · Gündeş had filed for divorce from Zarrab in April on the grounds that the institution of their marriage had been fundamentally damaged.
  86. [86]
    Reza Zarrab got married in Miami! The names of the attendees at ...
    18.01.2025 12:21. Ebru Gündeş's ex-husband Reza Zarrab married Dilara Altıntop, an executive assistant at a company in Miami.
  87. [87]
    Reza Zarrab Reveals a Plot to Kill Him, and Is Accused of Rape
    Dec 9, 2017 · Zarrab occurred when he was sued by an inmate in a federal jail in Manhattan who accused him of rape. The inmate says in the lawsuit that Mr.
  88. [88]
    Inmate Accuses Star Witness in Iran Sanctions Case of Rape
    No allegations of sexual misconduct have arisen in Zarrab's testimony. On Monday attorneys for Atilla brandished other evidence against Zarrab from his time ...
  89. [89]
    Gold Trader Reza Zarrab Calls Prison-Rape Claim 'Fiction'
    Mar 16, 2018 · Gold trader Reza Zarrab had a fellow inmate here accuse him of prison rape – allegations he labeled “fiction” on Friday.
  90. [90]
    Turkish singer Gündeş files for divorce from businessman Reza Zarrab
    Sep 25, 2016 · Turkish singer Ebru Gündeş has filed for divorce from Iranian born Turkish businessman Reza Zarrab, who was arrested in Miami on charges of money laundering ...
  91. [91]
    https://en.haberler.com/ebru-gundes-s-greatest-helplessness-she-couldn-t-19184986
  92. [92]
    Hadise Sonunda Patladı: Reza Zarrab'la İlişki Yaşadığını Söyleyen ...
    Jun 1, 2023 · Hadise Sonunda Patladı: Reza Zarrab'la İlişki Yaşadığını Söyleyen Bircan Bali ve Seren Serengil'e Dava Açtı. Ebru Gündeş Hadise Reza Zarrab.
  93. [93]
    Shocking statements from Seren Serengil! Hadise - Ebru Gündeş
    Nov 22, 2022 · ... relationship with Reza Zarrab, has made a bold statement this time. Serengil claimed she has evidence of the Hadise-Reza Zarrab affair.
  94. [94]
    Reza Zarrab Recounts Death Threat to Iran Sanctions Jury
    Dec 7, 2017 · Reza Zarrab Recounts Death Threat to Iran Sanctions Jury. Share full ... devised plots to overthrow governments, kill high-profile leaders or arm ...
  95. [95]
    Iran sanctions case witness Reza Zarrab says cellmate made death ...
    Dec 8, 2017 · Iran sanctions case witness Reza Zarrab says cellmate made death threats · Turkey leader 'knew of sanctions busting' · Turkey attacks US over gold ...Missing: plots | Show results with:plots
  96. [96]
    Iran gold smuggling case witness Reza Zarrab suffers death threats ...
    Dec 8, 2017 · Iran gold smuggling case witness Reza Zarrab suffers death threats after imprisonment for violating sanctions. Mr Zarrab said a cellmate had ...
  97. [97]
    Reza Zarrab - Latest news, videos and opinion | Middle East Eye
    Jailed gold trader Zarrab claims death threats for co-operating with US ... Istanbul court issues order to confiscate gold trader Reza Zarrab's assets.Missing: plots | Show results with:plots