In a federal courtroom in Philadelphia, two Texas men were handed down 45-month prison sentences for their audacious attempt to circumvent U.S. sanctions and profit from the sale of Iranian petroleum to China.
Zhenyu “Bill” Wang, 43, of Dallas, and Daniel Ray Lane, 42, of McKinney, were found guilty last November of conspiring to violate the International Emergency Economic Powers Act (IEEPA) and committing money laundering.
The scheme, which unfolded between July 2019 and February 2020, involved a complex web of deception aimed at masking the origin of the sanctioned Iranian oil and laundering the illicit proceeds.
Court documents reveal that Wang and Lane, along with several co-conspirators, plotted to purchase vast quantities of Iranian crude oil, a commodity strictly prohibited under U.S. sanctions.
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They sought to conceal the oil’s true source, forging documents and creating shell companies to facilitate the illicit transactions. Their ultimate goal was to sell the oil to buyers in China, a lucrative market hungry for energy resources.
The scheme’s audacity was matched only by the defendants’ brazen disregard for U.S. law. In intercepted communications, Wang boasted about the potential profits, stating, “I love sanction to be honest with you and the sanctions make everybody money.” Lane echoed this sentiment, remarking that “sanctions can always be massaged… you know, there is always a way around it.”
However, their elaborate plan ultimately unraveled under the scrutiny of federal investigators. Undercover agents infiltrated the operation, gathering evidence that would eventually lead to the downfall of the conspirators.
The sentencings of Wang and Lane mark a significant victory for U.S. law enforcement in its ongoing efforts to enforce sanctions against Iran and disrupt illicit financial networks. The case also serves as a stark warning to those who seek to profit from illegal activities by flouting international sanctions.
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“Today, Mr. Lane and Mr. Wang are held accountable for attempting to broker illicit oil sales between Iran and China, and launder the proceeds, in violation of U.S. sanctions,” said Assistant Attorney General Matthew G. Olsen of the Justice Department’s National Security Division. “The court’s sentence makes clear that those who place personal profit over national security will face serious consequences.”
The case against Wang and Lane is part of a broader crackdown on sanctions evasion by the U.S. Department of Justice. In recent years, the department has brought numerous charges against individuals and companies accused of violating sanctions against Iran, North Korea, and other countries.
“The FBI will use all our lawful authorities to stop those who seek to evade sanctions on Iranian oil,” said Executive Assistant Director Larissa L. Knapp of the FBI’s National Security Branch. “Today’s sentencing of Zhenyu Wang and Daniel Ray Lane reflects our commitment to combatting these illegal actions and serves as a warning to others that violating U.S. sanctions impacts our national security and will not be tolerated.”
As the global energy landscape continues to shift, the allure of illicit profits from sanctioned oil will undoubtedly persist. However, the case of Wang and Lane demonstrates that U.S. authorities are determined to protect national security and uphold the rule of law, even in the face of complex and sophisticated schemes.
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