Despite the best efforts of a major American law firm, the money laundering and sanctions evasion criminal case against Turkiye Halk Bankesi, more commonly known as Halkbank, the Turkish state-owned bank, has been set for arraignment on March 31, 2020, before US District Judge Richard Berman, who presided over the connected cases against Reza Zarrab and Mehmet Atilla. Some legal observers have accused the bank of acting in bad faith in its actions to date, while others blame it on a zealous defense by the attorneys defending the bank.
Counsel for the bank first attempted to file a Special Appearance on behalf of the bank, asserting a lack of jurisdiction, but the fact that the bank participated in a US Department of Agriculture program ended that effort; it was denied the ability to file a Special or Limited Appearance.
The attorneys for Halkbank which is owned by the the Government of Turkey who is a major contributor with Iran in supporting the terrorist groups of HAMAS and Hezbollah is now facing the might of the USA Justice Department.
Contributed by Kenneth Rijock - Financial Crime Consultant
Chronicles of Monte Friesner - Financial Crime Analyst