Info:
Asadollah Seifi used UAE-based Golden Commodities, which is under his supervision, and UAE-based company The Best Leader General Trading, to obfuscate millions of dollars’ worth of transactions benefiting the Iranian regime. Seifi also manages Atlas Exchange, and his procurement of U.S. dollars involved the transfer of funds through U.S.-designated banks such as Bank Mellat and Europaisch-Iranische Handelsbank AG. In August 2018, Seifi also facilitated the purchase of gold by the Iranian regime after U.S. sanctions on Iranian gold had been reimposed;
Seifi has also facilitated the purchase of foreign currency for the IRGC;
Golden Commodities General Trading LLC is being designated pursuant to E.O. 13224 for being owned or controlled by Asadollah Seifi. The Best Leader General Trading is being designated pursuant to E.O. 13224 for being owned or controlled by Asadollah Seifi;
Ansar Exchange conducted currency exchange services for Ansar Bank totaling over one billion dollars. Over the past few years, Ansar Exchange also directly provided MODAFL with the equivalent of approximately 100 million in dollars and euros, in addition to the equivalent of approximately 130 million dollars’ worth of goods and services ultimately destined for the benefit of the IRGC. IRGC is terrorist organization that sponsors, funds, terrorist organizations like Hamas, Hezbollah, Taliban;
June 25, 2024
Iranian money-changer Asadollah Seifi (Seifi) continued his involvement in sanctions evasion schemes following his March 26, 2019 designation pursuant to E.O. 13224 for providing material support to a vast currency exchange network overseen by Ansar Exchange, which supported the IRGC and MODAFL. Seifi conducts sanctions evasion activities in support of the MODAFL Supply Division in Emirati dirham (AED) through UAE-based shell companies. On instruction from the MODAFL Supply Division, Seifi establishes shell companies and accounts for MODAFL’s use, converts or transports foreign currency using couriers, retrieves revenue from oil and petrochemical sales through cover companies, and holds MODAFL Supply Division money in cover company accounts outside of Iran, often in the UAE. Seifi also transfers foreign currency to suppliers of the IRGC and MODAFL and directly to the IRGC-QF at the behest of the MODAFL Supply Division.
OFAC is re-designating Asadollah Seifi pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, MODAFL.
Five shell companies based in the UAE that are controlled by Seifi and used by him to obfuscate MODAFL’s financial activity are also being designated:
Mufflin Trading L.L.C.
Colwich Trading L.L.C.
Long Worth Goods Wholesalers L.L.C.
Bethesda Industrial Solvents Trading
O N C U Trading L.L.C.
Between 2021 and 2022, Mufflin Trading L.L.C., Long Worth Goods Wholesalers L.L.C., and Bethesda Industrial Solvents Trading were used to transfer collectively nearly 100 million AED to the Iran-based, MODAFL-affiliated exchange houses Omid Sepah, Hekmat Iranian, Sadaf Exchange, and Ansar Exchange.
The above entities are all being designated pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, MODAFL.
Industry:
Banking Sector
Also Known As:
Asadollah Seify
Esdaleh Seyfi
Born:
04 Apr 1965
Country:
Iran
Reason for the color:
» Added to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on March 26, 2019 pursuant to Executive Order 13224 for acting for or on behalf of Atlas Exchange;
» Added to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on June 25, 2024 pursuant to Executive Order 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, MODAFL;