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The Department of Justice is investigating transactions involving a business network associated with Iranian According to a Bloomberg News report, Supreme Leader Mojtaba Khamenei has reportedly been linked to major US financial institutions.
Bloomberg reports that federal investigators are looking into how companies linked to Khamenei built a global investment portfolio with transactions linked to Wall Street firms including JPMorgan Chase and Citigroup.
The notice of investigation is part of a broader Justice Department investigation into alleged money laundering and corruption involving entities linked to Khamenei, Bloomberg reported, citing people familiar with the matter.
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JPMorgan Chase is headquartered in New York. Federal investigators are reportedly looking into transactions related to a business network linked to Iran’s supreme leader that involved major U.S. 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 looking into the role of US financial institutions in processing or facilitating transactions linked to the network, although Bloomberg reports that the probe does not necessarily mean charges will be filed.
The investigation comes as the Trump administration has stepped up pressure on Iran and sought to crack down on sanctions evasion and illicit financial activity linked to Tehran and its leadership.
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Citigroup is headquartered in New York. The bank was named in a Justice Department investigative report looking into transactions related to a business network linked to Iran’s supreme leader. (Victor J. Blue/Bloomberg/Getty Images)
The investigation could bring new scrutiny to how major financial institutions identify and monitor potentially sanctioned entities operating through complex international ownership structures and investment arrangements, a long-standing concern for global banks and regulators.
Bloomberg reports that Khamenei and his network of businesses are the focus of the investigation, not the banks themselves.
| Ticker | Security | The last one | A change | Change % |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO. | 325.22 | -8.24 |
-2.47% |
| S | CITIGROUP INC. | 143.06 | -0.72 |
-0.50% |
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Khamenei became Iran’s supreme leader after his father, Ayatollah Ali Khamenei, was killed in a joint US-Israeli airstrike. As Iran’s highest authority, he has the final say on important government decisions, including foreign policy and the country’s nuclear program.
The investigation comes amid heightened tensions between Washington and Tehran as the administration continues to increase economic and diplomatic pressure on the Iranian regime.