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Gold Trader at Heart of Turkey Graft Scandal Charged in U.S.

  • Royal Holding's Zarrab helped launder Iran funds, U.S. says
  • Arrest follows 2013 allegations in Turkey in bribery scandal
Reza Zarrab in 2013.

Reza Zarrab in 2013.

Photographer: Ozan Kose/AFP via Getty Images
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Reza Zarrab, a gold trader at the center of a bribery scandal that engulfed Turkey’s leadership more than two years ago, was charged by the U.S. of running a scheme to help the Iranian government launder hundreds of millions of dollars and evade economic sanctions. 

Zarrab, 33, owner and operator of Royal Holding A.S., and two others, are accused of using a web of companies over five years to induce U.S. banks to unwittingly process transactions that violated international sanctions against Iran, according to an indictment unsealed on Monday.