Overview
- The Justice Department revealed an active inquiry on June 18 into how Iran’s new Supreme Leader, Mojtaba Khamenei, may have used proxies and offshore entities to build a global portfolio while hiding beneficial ownership.
- Federal investigators are tracing payment chains that reporting says may have touched major U.S. banks, including JPMorgan Chase and Citigroup, and are reviewing the role of U.S. correspondent banking relationships.
- A Bloomberg investigation published earlier this year documented alleged purchases of luxury real estate — including London’s Bishops Avenue — that were routed through shell companies and intermediaries.
- The DOJ has already pursued civil forfeiture actions seeking $15.3 million tied to oil‑related transactions and companies named in the reporting, and firms such as Hilton have launched internal reviews of linked hotel relationships.
- The probe highlights gaps in bank due diligence on opaque ownership and raises diplomatic sensitivity after a recent interim peace deal, with possible outcomes ranging from fines and further forfeitures to tighter correspondent‑bank rules.