Reza Zarrab: Beautiful Mind II?

Source:PA Intelligence Date:30Jan2018

Turkish public and markets  have all but forgot about the Reza Zarrab-cum Hakan Atilla trial, which involves accusations of Turkish authorities helping rogue gold trade Zarrab evade Iran sanctions regime. Mr. Hakan Atilla, a former deputy GM of state-owned Halkbank, also implicated in the sanctions evasion case, was found guilty of five charges at the beginning of January by a jury, some of which charges relate to sanctions violations. Reza Zarrab had pleaded guilty and turned state’s evidence for clemency and is being held in jail. Both are expected to be sentenced in mid-April by Judge Berman.

The big question is of course whether the judge, or subsequently Department of Justice or Treasury will impose sanctions on Halkbank, other entities cited in court testimony or even leading politicians of past and now, like former economy czar Mr. Ali Babacan and Turkey’s powerful president Me Erdogan.  Two recent articles shed new light on the case, indicating the possibility of sanctions.