- Zhenyu “Bill” Wang and Daniel Ray Lane were convicted on charges related to attempting to violate the International Emergency Economic Powers Act (IEEPA).
- The defendants engaged in a conspiracy to purchase petroleum from Iran, violating U.S. economic sanctions, with plans to sell it to a refinery in China.
- To conceal their actions, the defendants used tactics such as obtaining foreign passports, engaging in sham contractual agreements, and attempting to launder proceeds through shell entities and offshore accounts. Wang also arranged bribe payments to Chinese officials and bankers.
- Both defendants face a maximum penalty of 45 years in prison for various charges. Read More
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