Tehran firm indicted on alleged embargo violations

Iranian company, officers indicted on charges of violating US trade embargo

ALEXANDRIA, Va. (AP) -- An Iranian technology company and several of its managers and business partners have been indicted in Virginia for violating the U.S. trade embargo against Iran.

The indictment in federal court in Alexandria was unsealed Wednesday after two of the alleged conspirators were arrested in Los Angeles.

Prosecutors say that Tehran-based Business Machinery World Wide engaged in a four-year conspiracy to export more than $30 million in laptop computers, digital media equipment and other technology from the U.S. into Iran. Often the goods were routed through a subsidiary in Dubai.

The indictment alleges that BMWW employees took steps to hide the fact that the goods they were buying were ultimately destined for Iran.

Nine people, including four Iranian citizens, have been charged. They potentially face up to 25 years in prison.

  •  
    Recent Quotes
    Symbol Price Change % ChgChart 
    Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
    You need to enable your browser cookies to view your most recent quotes.
  • Recent Quotes News

    •  
      Sign-in to view quotes in your portfolios.

    Trading Center

    Yahoo! Finance on Facebook

    POLL

    What would you like to see out of any potential tax reforms?

    Loading...
    Poll Choice Options