Reza Zarrab

Reza Zarrab, the star witness unnerving Ankara

london - Muslimchronicle

It's a case that has captivated Turkey and rattled Ankara: Reza Zarrab has become the star witness in a New York trial over alleged subversion of US economic sanctions against Iran, implicating a former Turkish minister and President Recep Tayyip Erdogan. The Turkish-Iranian gold trader -- who was arrested in March 2016 en route to a family trip to MiamiRead more

Moving assets abroad is act of treason

Ankara - Muslimchronicle

Turkish President Recep Tayyip Erdogan declared Sunday that businessmen who move assets abroad are committing "treason", adding that his government should put an end to the practice. "I am aware that some businessmen are attempting to place their assets overseas. I call on the government not to authorise any such moves, because these are acts of treason," Erdogan said inRead more

Erdogan: US courts cannot put Turkey on trial

ANKARA - Muslimchronicle

Courts in the US cannot put Turkey on trial, Turkish President Recep Tayyip Erdogan said on Saturday, in reference to the case of a Turkish bank executive who has been charged with evading US sanctions on Iran. Already strained ties between NATO allies Ankara and Washington have deteriorated in recent weeks as Turkish-Iranian gold trader Reza Zarrab, who is cooperatingRead more

Turkey seizes assets of gold trader witness in US trial

Ankara - Muslimchronicle

Turkish prosecutors on Friday ordered the seizure of assets of a gold trader testifying in a New York trial against a Turkish banker accused of violating US sanctions against Iran, state media reported. The Istanbul public prosecutor said the assets of Reza Zarrab and his family would be confiscated as part of a probe, Anadolu news agency said. The Turkish-IranianRead more

Gold trader tells US court: I paid ex-Turk minister over Iran deals

New York - Muslimchronicle

A Turkish-Iranian gold trader paid millions of dollars in bribes to Ankara's former economy minister to facilitate illegal gold transactions with sanctions-hit Iran, the trader testified on Wednesday. Reza Zarrab had been due to go on trial Tuesday in Manhattan federal court, but the prosecution made clear that Zarrab was, instead, their star witness. The lone man in the dockRead more

Turkish-Iranian mogul flips to US government witness at trial

New York - Muslimchronicle

Turkish-Iranian gold trader Reza Zarrab is expected to testify Wednesday for US government prosecutors in a potentially explosive sanctions-busting New York trial that could further inflame ties with Ankara. Proceedings, which put Turkish banker Mehmet Hakan Atilla, 49, alone in the dock after Zarrab flipped and agreed to cooperate with prosecutors, opened in Manhattan on Tuesday with opening statements. "YouRead more

Jury selection set for trial of Turkey-owned bank executive

NEW YORK - Muslimchronicle

Jury selection is scheduled to begin in the trial of a top executive for a state-run bank in Turkey accused of conspiring to help Iran evade economic sanctions. Halkbank Deputy CEO Mehmet Hakan Atilla has pleaded not guilty to charges he conspired with international gold trader Reza Zarrab. Jury selection is set to begin Monday. It’s unknown what role ZarrabRead more

Turkish lira hits record low against US dollar

Washington - Muslimchronicle

The embattled Turkish lira hit record lows against the dollar on Tuesday as investors took fright over an impending trial in the United States and changes to banking regulations. The Turkish lira lost over one percent in value to trade at 3.97 to the dollar late morning, testing the never-before-reached 4.0 ceiling, before rallying slightly to 3.95 in the earlyRead more