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The Justice Department is investigating transactions linked to a business network linked to Iran's Supreme Leader Mojtaba Khamenei that reportedly had exposure to major U.S. financial institutions, according to a Bloomberg News report.
Bloomberg reported that federal investigators are examining how companies linked to Khamenei built a global investment portfolio through transactions involving Wall Street firms including JPMorgan Chase and Citigroup.
The reported investigation is part of a broader investigation by the Justice Department into allegations of money laundering and corruption involving entities tied to Khamenei, according to Bloomberg, which spoke to people familiar with the matter.
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JPMorgan Chase is headquartered in New York City. Federal investigators are reportedly reviewing transactions linked to a business network linked to a top Iranian leader involving major US financial institutions. (Photo by Tim Clayton/Corbis via Getty Images / Getty Images)
JPMorgan Chase, Citigroup and the Justice Department did not immediately respond to FOX Business' requests for comment.
Investigators are reviewing the role that US financial institutions may have played in processing or facilitating transactions linked to the network, although Bloomberg reported that the investigation does not necessarily mean that charges will be filed.
The reported probe comes as the Trump administration has stepped up pressure on Iran and sought to curb sanctions evasion and illegal financial activities tied to Tehran and its leadership.
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Citigroup headquarters in New York City. The bank was named in a report in a Justice Department investigation into transactions linked to a business network associated with Iran's supreme leader. (Victor J. Blue/Bloomberg/Getty Images)
The investigation could rethink how major financial institutions identify and monitor potentially sanctionable businesses that operate through complex international ownership structures and investment vehicles, a long-standing challenge for international banks and regulators.
Bloomberg reported that the main focus of the investigators is Khamenei and a network of businesses linked to him rather than the banks themselves.
| A ticker | Security | Finally | Change | change % |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO. | 325.22 | -8.24 |
-2.47% |
| C | Company CITIGROUP INC. | 143.06 | -0.72 |
-0.50% |
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Khamenei became Iran's supreme leader after the assassination of his father, Ayatollah Ali Khamenei, in a joint US-Israeli assassination. As Iran's top official, he has the final say on major state decisions, including foreign policy and the country's nuclear program.
The reported investigation comes amid growing tensions between Washington and Tehran as the administration continues to increase economic and diplomatic pressure on the Iranian government.
