Execution of Imam Khomeini’s Order (EIKO)

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

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

Info:
Executive Headquarters of Imam’s Directive, is a parastatal in the Islamic Republic of Iran, under direct control of the Supreme Leader of Iran;

Created from thousands of properties confiscated from Iranians, Setad holdings include large amounts of real estate and 37 companies, covering nearly every sector of Iranian industry, including finance, oil, and telecommunications;

While its accounts are secret even to the Iranian parliament, a 2013 estimate by Reuters news agency put the total value of Setad’s holdings at $95 billion (made up of about $52 billion in real estate and $43 billion in corporate holdings);

Originally an order by the Supreme Leader Ruhollah Khomeini to three of his aides to take care of and distribute abandoned property to charity, it is now “one of the most powerful organizations in Iran”, and its revenue provides Supreme Leader Ali Khamenei with the financial means to operate independently of the Iranian parliament and national budget;

As an organ of the Supreme Leader, Setad is not overseen by the “Islamic Consultative Assembly” (Iranian Parliament). It is, however, an important factor in Khameni’s power, giving him financial independence from parliament and the national budget, and thus “insulating him from Iran’s messy factional infighting”;

According to sources critical of the Supreme Leader, members of Khamenei’s family have deposited large sums in foreign bank accounts. In 2009, British banks froze $1.6 billion in funds belonging to Ali Khamenei’s son (Mojtaba Khamenei) according to payvand.com;

According to leaked reports in 2011, Ali Khamenei had $36 billion in bank accounts abroad, and his son Mojtaba $21 billion.

Various other Khamenei family members are also alleged to have hundreds of millions of dollars deposited in a wide array of foreign banks and financial institutions.

According to a 2015 report, Khamenei claims to have a personal net worth of only $150 million;

In July 2010, the European Union added the president of Setad, Mohammad Mokhber, to its list of individuals and entities being sanctioning for alleged involvement in “nuclear or ballistic missiles activities.” Two years later, it removed him from the list without explanation, but allegedly in “an attempt to fend off a broader Iranian legal challenge to financial sanctions on Iran’s banks and bank directors”;

According to the U.S. Treasury Department – January 13, 2021:
Action targets EIKO, its leader Mohammad Mokhber, and its subsidiaries in key Iranian economic sectors such as energy, telecommunications, and financial services.

EIKO is a business juggernaut under the direct supervision of Supreme Leader Ali Khamenei that has a stake in nearly every sector of the Iranian economy, including energy, telecommunications, and financial services. EIKO has systematically violated the rights of dissidents by confiscating land and property from opponents of the regime, including political opponents, religious minorities, and exiled Iranians, while, according to its leader Mohammad Mokhber, being tasked by the Supreme Leader to implement a “resistance economy.”

EIKO carries out many of its investments through the Tadbir Economic Development Group, a large organization that is one of EIKO’s main holding companies. Tadbir Economic Development Group has numerous subsidiaries, some of which are in the process of entering Iran’s stock exchange, with many held as subsidiaries of the Tadbir Energy Development Group Co. Entities owned or controlled, directly or indirectly, by Tadbir Energy Development Group Co. include Ghaed Bassir Petrochemical Products Company, Tadbir Drilling and Development Company, Persia Oil & Gas Industry Development Co., Pars Oil Company, Rey Niru Engineering Company, and Abadan Power Generation Company, all of which are in Iran’s energy or petrochemicals industries.

Also designated is Iran Mobin Electronic Development Company, a direct subsidiary of EIKO involved in telecommunications, and Barkat Ventures, a direct subsidiary of EIKO that serves as a pillar of EIKO’s investments into cyberspace and information technology.

EIKO is being designated pursuant to E.O. 13876 for being owned or controlled by, directly or indirectly, the Supreme Leader of Iran. EIKO and several of its subsidiaries were previously identified as meeting the definition of the Government of Iran pursuant to E.O. 13599 and added to OFAC’s Specially Designated Nationals and Blocked Persons List in 2013.

Also Known As:
Setad Ejraie foundation
Setad
IKO
Setad Ejraei Emam
Setad-E Ejraei-E Farman-E Hazrat-E Emam
Setad-E Farman-Ejraei-Ye Emam

Established:
April 26, 1989; 29 years ago

Founders:
Habibollah Asgaroladi, Mehdi Karroubi, Hassan Saanei

Country:
Iran

Address:
Khaled Stamboli St. Tehran, Iran

Person of interests:
Mohammad Mokhber (President and CEO)

Reason for the color:
» Treasury Targets Billion Dollar Foundations Controlled by Iran’s Supreme Leader – January 13, 2021;
» United States Department of the Treasury took action on 4 June 2013 to “expose” EIKO (Setad) — what it called a ” Massive Network of Front Companies”—and declare it subject to sanctions pursuant to Executive Order 13599, which “blocks the property of the Government of Iran”, (prohibiting “U.S. persons from engaging in most transactions” with people “meeting the definition of Government of Iran”);
A January 16, 2016 US government document stated EIKO was not on the SDN List (Specially Designated National)nor “subject to Secondary Sanctions”, but that “US persons” were required to continue to “Block the Property and Interests in Property” of EIKO (Setad) in accordance with Executive Order 13599;

» Organization structure and holdings of EIKO;


You May Be Interested

IFMAT Color Guide

×
We sort entities who are connected with terrorist activities, in two sections, first by risk and second by geolocation.
GeoLocation divisions are divided into two fields, Black List and Gray List.
BlackList is a list of all companies, organizations and figures who originate from Iran.
GrayList is a list of all companies, organizations and figures out of Iranian borders, and doing business with Iran.
We identify risk of entities by COLOR selection, each color marks the risk level of the entity.(by declining order)
 
TOP ALERT
Designated / Sanctioned / Illicit entities
 
HIGH ALERT
Entities affiliated with Designated / Sanctioned / Illicit entities.
 
MEDIUM ALERT
Entities sanctioned in the past for Terror or Illicit activities / WMD related / Human rights violations.
 
RISK ALERT
Entities in a problematic sector - Sector controlled by the Top Alert entities.
 
GENERAL ALERT
Legitimate entities - we cannot determine whether an entity is completely green, and that is due to the facts that the Iranian economy is not transparent enough for us. Be sure.