The Supreme Court considered whether the federal government can pursue criminal charges against Turkey’s state-owned bank, which is accused of helping to launder billions of dollars so Iran could evade U.S. economic sanctions.
Prosecutors alleged that from 2012 to 2016, Halkbank and its senior officers used front companies in Iran, Turkey and the United Arab Emirates and made “illicit transactions” that should have exposed the bank to sanctions under U.S. law. The front companies allowed the bank to transfer about $20 billion of what should have been restricted Iranian funds, according to the indictment, including at least $1 billion that passed through the U.S. financial system.
If the Supreme Court were to agree with the government that Halkbank can be prosecuted, Blatt said, “for the first time in the history of the world and on the planet, time immemorial, you’re saying that it’s conceivable a foreign state can be indicted.” “States would be free to try to bring lawsuits against Mexico for this or that, or perhaps China because of covid, or who knows what a creative state prosecutor might come up with,” Gorsuch said.
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