Aktif Bank says has not violated U.S., worldwide sanctions

Dec 01, 2017, 01:40
Aktif Bank says has not violated U.S., worldwide sanctions

USA prosecutors have charged nine people in the case, although only Zarrab, 34, and Atilla, 47, have been arrested by US authorities.

Turkish gold trader Reza Zarrab, who is a witness, testified on Wednesday that he had initially handled Iranian transactions through Aktif Bank.

Zarrab, 34, who has pled guilty to fraud charges in the case and is cooperating as the government's star witness, described discussing the scheme to evade sanctions with Caglayan, including using suitcases full of gold to launder Iran's money.

A Turkish gold trader testified Thursday that he was told his scheme to move billions of dollars in Iranian oil profits in violation of USA sanctions was approved by Turkish president Recep Tayyip Erdogan. Both Caglayan and Aslan were charged in the case.

Reza Zarrab (RAY'-zah ZA'-rahb) got a reprieve Thursday from the drab tan prisoner-style fashion he wore on his first day of testimony at the trial of Mehmet Hakan Atilla. US authorities say bank officials such as Atilla helped hide the arrangement.

Turkey's deputy prime minister recently said Zarrab was a "hostage" being forced to testify against Turkey's government. He resigned at the end of 2013 when Turkish authorities started investigating whether he and other ministers took bribes from Zarrab to help Iran evade United Nations sanctions.

"I did not know what I was facing and after a long trip I was shocked and I couldn't give the right answers", Zarrab said.

Mr. Zarrab testified that it was Zafer Caglayan, Turkey's economy minister at the time, who told him of Mr. Erdogan's approval for the two banks, Ziraat Bank and VakifBank, to participate in the scheme.

Zarrab said he pleaded guilty last month to seven charges, including conspiracy, violating US sanctions, bank fraud, money laundering and paying a bribe to a prison guard to get alcohol and the use of a cellphone.

Zarrab said he used Halkbank to continue his transactions with Iran after Aktif Bank stopped working with him. Atilla has pleaded not guilty. Officials there have called it a sham aimed at discrediting President Recep Tayyip Erdogan's government.

YOU MIGHT ALSO LIKE
  • 4.1 magnitude earthquake strikes Delaware

    4.1 magnitude earthquake strikes Delaware

    This is likely the strongest quake the mid-Atlantic has felt since about 2011, News4's Amelia Draper says. The quake was felt in other states along the East Coast including NY .
    New Zealand include pacer Henry for first Test against West indies

    New Zealand include pacer Henry for first Test against West indies

    The Basin Reserve sported a surface with plenty of grass, but Williamson said it was hard underneath. Here we take a look at 5 Black Caps players to watch out for.
    Nascar eSports Future of Racing?

    Nascar eSports Future of Racing?

    Just like modern stars Cristiano Ronaldo and Lionel Messi have made soccer all the more popular in the United States of America. Still unsure? The series has been shown online since 2010, and the demand to watch it shows the growth is likely to continue.
  • The AP fact checked Trump's Joe Scarborough tweet

    The AP fact checked Trump's Joe Scarborough tweet

    Crazy Mika, along with Psycho Joe, came to Mar-a-Lago 3 nights in a row around New Year's Eve, and insisted on joining me. I would like the cabinet members - serving America , not the president; serving America .
    Beavers to name Jonathan Smith new head coach

    Beavers to name Jonathan Smith new head coach

    The Beavers went 1-11 this season, ending their year with a 69-10 loss in the Civil War against OR on Saturday. Prior to that, he was quarterbacks coach under Petersen at Boise State for two seasons (2012-13).
    Three convicts get death penalty in Kopardi rape and murder case

    Three convicts get death penalty in Kopardi rape and murder case

    The victim, a Class IX student, was found murdered after being raped July 13, 2016 at Kopardi village in Ahmednagar district. The death sentences are subject to confirmation by the Aurangabad bench of the Bombay high court, the judge said.
  • 'Jersey Shore' Revived at MTV With Original Cast

    'Jersey Shore' Revived at MTV With Original Cast

    Five years after MTV's Jersey Shore closed up shop, the breakout reality hit is returning to the Viacom-owned cable network. However, it gave birth to a number of spin-off series, which was a big proof of its success.
    BMW unveils new i8 Roadster and Coupe with more electric range

    BMW unveils new i8 Roadster and Coupe with more electric range

    However, both have an improved electric range - the Coupe can travel 55km on electric power only, while the Roadster can do 53km. Its cell capacity is up from 20 Ah to 34 Ah, while the gross energy capacity has been increased from 7.1 kWh to 11.6 kWh.
    Donkeys jailed for destroying 'expensive' plants, Twitter reacts

    Donkeys jailed for destroying 'expensive' plants, Twitter reacts

    Yes, the UP police on Tuesday tweeted stating that it "has nothing to do with their (donkeys) arrest or custody". Their bail had been paid by a local politician from the ruling Bharatiya Janata Party (BJP), according to NDTV .
  • Delhi records highest cases of crimes against women in 2016

    Delhi records highest cases of crimes against women in 2016

    Out of the total 8,08,637 cases registered under the IPC, state laws and other laws, 18,295 cases were registered in Hyderabad . Comparatively, Karnataka reported 1,869 such incidents, accounting for just 4.3 per cent of all such crimes in the country.
    Jimmy Garoppolo To Make First Start For 49ers On Sunday

    Jimmy Garoppolo To Make First Start For 49ers On Sunday

    Beathard was injured in Sunday's game against the Seattle Seahawks, which pressed Garoppolo into brief duty. It is unclear whether Beathard's injuries had anything to do with Shanahan's decision.
    Arsenal: Capable of Winning the Premier League Title?

    Arsenal: Capable of Winning the Premier League Title?

    With plenty of points to be won and lost, the title race is still very much on and Arsenal will be confident of bridging the gap. Defensively, Arsenal have improved since Shkodran Mustafi joined the club in the summer but there is still room for improvement.
popular