Nicholas Hovan

Nicholas Hovan arranged to purchase the Iranian oil and sell it to a refinery in China represented by defendant Zhenyu Wang

Status:Top Alert – Entity designated / sanctioned for terror, WMD and human rights violation

Risk Level:99%

May harm your business future. Persons or entities that engage in transactions with this entity will be exposed to sanctions or subject to an enforcement action.

Working with this entity means supporting Iranian Regime, Regime Terrorist Activities & development of WMD

Nicholas Hovan is charged with one count of conspiracy and one count of violating IEEPA, based on allegations that from July 2019 to February 2020 they conspired in Philadelphia and elsewhere to arrange for the purchase of oil from the Islamic Republic of Iran, in violation of United States economic sanctions imposed on Iran, for sale to a refinery in China;

The Complaint alleges that defendants Nicholas Hovan, James Fuchs, Robert Thwaites, and Daniel Ray Lane arranged to purchase the oil and sell it to a refinery in China represented by defendant Zhenyu Wang, a/k/a “Bill Wang.”;

“With the goal of illegally enriching themselves, the defendants conspired for over eight months to devise a scheme to violate U.S. sanctions imposed on Iran, particularly the ban on foreign oil sales,”;

“The defendants in this case allegedly committed serious federal crimes that flew in direct contradiction to the United States’ national security interests,” said U.S. Attorney McSwain for the Eastern District of Pennsylvannia. “By devising a scheme to purchase oil from Iran, conceal its origins via a refinery in China and make tremendous profits, the defendants were also directly financially benefitting the nation of Iran in its quest to become a nuclear power, thus jeopardizing the safety and security of the United States and our allies. These five defendants will be prosecuted to the fullest extent of the law in order to send the message that this type of subversion of U.S. policy and law will not be tolerated.”;

If convicted, the defendants each face a maximum possible sentence of 25 years’ incarceration, as well as a maximum possible fine of $1.25 million;

Oil Industry

Also Known As:
Nichola Hovan


United States

New York, NY, United States

Reason for the color:
» Four Texans, One New Yorker Arrested for Conspiracy to Sell Sanctioned Iranian Oil to Refinery in China for Huge Profit;